The fourth annual Agribusiness Insights Report has been released, providing valuable updates across Tasmania's agricultural sector.
Minister for Primary Industries and Water, Jane Howlett, said the report features a snapshot of industry performance, emerging opportunities and trends over the last year.
"While the Agribusiness Insights Report notes the challenging drought conditions faced primarily by the red meat sector, other sectors, such as fruit and wine, have managed the past season relatively well with the availability of irrigation water supporting the yield results," Minister Howlett said.
"Investment in infrastructure, including irrigation, has helped underpin the strength in the State's dairy sector despite the challenging seasonal conditions.
"Tasmanian milk production was up in the reporting period compared to the previous year, with 2023-24 season prices of milk solids providing good returns for the sector.
"The report also highlighted that field crops and vegetables had a good and steady season.
"Being responsive to change is a key action in Tasmania's Competitiveness of Tasmanian Agriculture for 2050 White Paper and the annual Insights Report reflects the dynamic nature of industry challenges and opportunities.
"Importantly, it helps inform how the Tasmania Government and industry can continue to work towards achieving the AgriVision target to grow the annual farmgate value of agriculture to $10 billion a year by 2050.
"The Tasmanian Government's 2024-25 Budget will continue to drive the delivery of the Tasmanian Government's 2030 Strong Plan for Tasmania's Future, which backs in the agricultural sector to prosper.
"Tasmania's premium produce is the envy of the world and our farmers are the most confident in Australia."
The 2023-24 Report was developed by the Department of Natural Resources and Environment Tasmania, in consultation with industry and key stakeholders.
To read the report visit: https://nre.tas.gov.au/agriculture/multifaceted-agriculture/facts-figures/agribusiness-insights
