Strong outlook for agriculture in 2022
Australia's agricultural sector is set for another profitable year ahead, with the gross value of production on track for a fourth consecutive year of growth in 2021/22.
Australia’s variable climate means it is vital to have adequate water available to meet the broad range of water requirements on a property.
Australia is a large arid continent which is subjected to climatic variability including drought. Australian farmers are efficient, innovative and resilient, however the onset of drought presents significant challenges for farmers and their communities.
Drought impacts farmers financially due to the loss of production and profitability, which has a flow on effect to other businesses in communities. The effects of drought have a broad range of impacts including mental health of those in drought affected areas. This topic will be covered in a later issue.
Farmers are encouraged to plan ahead and prepare for challenging seasonal conditions such as drought. This issue provides some guidance into what financial assistance is available to help prepare for drought. It also covers what assistance is available during drought and on the road to recovery.
Outlined in this Research Report you will find a list of potential resources which can direct you on where to find help. Notably it also provides a guide on what to have prepared in order to help streamline the process when seeking financial assistance and how to avoid some common mistakes.
Ideally the goal is to have your farm business prepared and able to manage drought. Being proactive and taking action early with some careful planning and preparation will ensure your business has the best chance of successfully withstanding a drought period.