news, national

The drought will wipe almost $1 billion off the value of Queensland's agricultural commodities this financial year, according to a new forecast. The combined value of cattle sold for slaughter and export, and food and textile crops is expected to be $17.8 billion by June 30. That's five per cent down on the previous $18.6 billion forecast made in April, the latest Agtrends report revealed on Thursday. Cotton is forecast to be hit particularly hard, with its forecast value to plunge to $237 million, 58 per cent lower than it was last financial year. The value of cattle and calves sold for slaughter and live exports is estimated to be down by six per cent, to $5.14 billion. But the report showed while most sectors failed to meet estimates, the poultry industry recorded a one per cent increase form the previous financial year to $573 million. Agriculture Minister Mark Furner said the latest figures made sober reading. "While Queensland primary producers are amongst the best in the world at handling climatic variability, this drought is having a significant impact," Mr Furner said. Prime Minister Scott Morrison visited the Queensland town of Dalby in September, announcing a $100 million support package to 13 local government areas across the country - three of them in Queensland. The Queensland local government areas of North Burnett, Banana and Western Downs were provided access to the funding, on top of the $7 billion already in drought support. The Queensland government also committed an additional $74.6 million over four years towards its drought assistance package in this year's Budget. Australian Associated Press

https://nnimgt-a.akamaihd.net/transform/v1/crop/frm/silverstone-feed-data/907c4ad6-fa89-4df5-9ac4-7ce7ee37fca1.jpg/r0_74_800_526_w1200_h678_fmax.jpg