Australian farming sets $90b record after wet weather creates food, fibre bonanza.

Australian farmers have produced their most valuable year yet, growing $90 billion worth of food and fibre, and pushing average yearly farm incomes to between $370,000 and $665,000 depending on the sector. 

It is the third year in a row that the value of Australian farm production has broken records, driven once more by wet growing conditions and high prices for a range of commodities.

Today's outlook from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) shows farm exports will soar to $75 billion this financial year — another first.

It also shows that Australia's winter crop production had broken new ground- up 4 million tonnes on the previous record set last year.

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