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THE OUTLOOK FOR AUSTRALIAN AGRICULTURE IN 2018/19:

* The volume of farm production is forecast to fall six per cent in 2018/19 compared with the year before, on the back of the drought in eastern states.

* Australian farmers are expected to produce $58 billion worth of goods, with that value down by four per cent from the previous year.

* The average income for all broadacre farms – those with large-scale crops – is projected to fall by 18 per cent from $201,300 per farm in 2017/18 to $173,000 in 2018/19.

* That is still well above the 10-year average of$140,000 per farm.

* Export earnings are expected to decline by six per cent in 2018/19, and could cut national economic growth in the year by 0.2 percentage points.

* Higher commodity prices and the weak Australian dollar have been supporting export returns.

* Threats to export earnings have increased, including trade tensions between the United States and China and increasing competition in many important markets.

(Source: Australian Bureau of Agricultural and Resource Economics and Sciences)