Wednesday, 13 October 2021 12:55

Victoria dairy sector leads the nation

Written by  Staff Reporters
Victoria is a leading contributor to Australia's dairy industry, accounting for 77% of Australia's dairy exports valued at A$2.1 billion. Victoria is a leading contributor to Australia's dairy industry, accounting for 77% of Australia's dairy exports valued at A$2.1 billion.

A new report has revealed that in 2020-21 Victorian farmers experienced the best financial returns in more than six years as the sector continues to innovate and excel.

Victorian Minister for Agriculture Mary-Anne Thomas released the 2020-21 Dairy Farm Monitor report this month, which shows the hard work and resilience of farmers has paid off after experiencing some difficult years responding to recent dry conditions, low water allocations and market volatility.

Agriculture Victoria's Dairy Farm Monitor project is a collaboration with Dairy Australia to provide critical insight for industry into how the sector is tracking. The annual report is a comprehensive financial and prodution analysis of 80 Victorian dairy farm businesses in south-western Victoria, Gippsland and northern Victoria.

The quality benchmarking data in the report gives Victorian dairy farmers the ability to make comparisons and identify areas they could change to improve the productivity, profitability and sustainability of their businesses.

While average dairy farm profits were up across most of the state, dairy farmers in Victoria's north posted the best results, taking advantage of favourable seasonal conditions to record the highest profits this region has seen for 15 years.

Since the last report, farm cashflows have increased from the previous year, with 94% of farms recording a positive return. This financial rebound has enabled farmers to invest back into their businesses by repairing and upgrading infrastructure and machinery and improving pastures.

Victoria is a leading contributor to Australia's dairy industry, accounting for 77% of Australia's dairy exports valued at $2.1 billion.

The gross value of milk produced in Victoria is worth A$2.7 billion (2018-19). The sector supports almost 10,000 jobs with more than half of these workers located in regional Victoria.

More like this

Farmer confidence riding high in Oz

With farmer confidence and consumer optimism high, much of Australia’s dairy industry has been riding on a wave of positivity over the past few months, according to Dairy Australia’s June 2021 Situation and Outlook report.

Aussie FTA leaves NZ meat sector envious

New Zealand's meat sector will be hoping to benefit from a yet-to-be-signed Free Trade Agreement (FTA) that its Australian counterparts are about to enter into with the UK.

National

Tributes to a dairy champion

Fonterra chairman Peter McBride has paid tribute to dairy industry leader John Luxton, who passed away earlier this month.

Dairy tops organic exports

Dairy has been named as New Zealand’s largest organic sector with exports of $153.8 million, up 55% from 2017.

Machinery & Products

Gongs for John Deere

The tractor of the Year 2022 Awards, held at the recent EIMA show in Bologna, handed out a brace of…

Digital pre-start safety checks

According to numbers published by ACC, more than 60 farm-related injuries are reported every day, leaving much room for improvement.

JV for Bucket Test App

Irrigation NZ and global farm management company CropX have established a joint venture agreement for the Bucket Test app.

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Poo-powered BMW

OPINION: Car maker BMW is partnering with a California dairy farm to turn effluent into clean energy to power its…

Not bad

OPINION: New Zealand may be a minnow on the global stage but here’s another example how our ag sector punches…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter