The value of Queensland’s agricultural sector is projected to boom to a second highest ever valuation of $23.56 billion in 2024-25, according to new AgTrends figures.
The figures revealed a promising year ahead, despite challenges like declining cattle prices, drier conditions and major natural disasters in 2023-24 leading to a valuation of $22.1 billion for the year.
The valuation remains higher than the five-year average and showcases the resilience of Queensland agriculture, with a corresponding supply chain value estimated at $33.88 billion.
“The future is bright with a second-highest value on record projected for the Ag sector in 2024-25,” said minister for Agricultural Industry Development and minister for Rural Communities, Mark Furner.
Cattle and calves once again took the gold medal as Queensland’s highest-valued commodity in 2023-24, contributing $5.71 billion to the state’s economy.
Meanwhile meat processing ($2.40B) and sugarcane ($2.06B) took the silver and bronze positions respectively.
Macadamias led the top five highest growing commodities in 2023-24, followed by chickpeas, sugarcane, apples and strawberries.
The macadamia mania was largely led by the Bundaberg region, which dominated the state’s production of the “Queensland nut.”
Toowoomba was the best performing region in 2023-24 with a Gross Value of Production (GVP) worth $1.27 billion, followed by the Western Downs ($951M) and Bundaberg ($899M).
Hinchinbrook experienced the highest growth in GVP (29 per cent), followed by Douglas (24 per cent), Mackay (23 per cent), Burdekin (19 per cent) and Cairns (12 per cent).
For the latest AgTrends statistics visit the Department of Agriculture and Fisheries‘ DataFarm website
