Rural Banks’s Australian Agricultural Trade Report 2017/18 shows exports grew by 0.4 per cent in the past 12 months and the sector remained resilient, despite challenging seasonal conditions.

Most agricultural exports rose in value, with beef, sheep meat, wool and wine posting stand-out results.

Dairy, which has experienced low farmgate prices until recently, grew in value for the first time since 2013/14.

Around two-thirds of Australia’s agricultural produce exported, making international markets a vital indicator for demand.

Beef and cattle and cropping topped export value at $10.4 billion each, followed by wool and cotton ($6.1 billion), sheep ($3.9 billion), wine ($2.8 billion), dairy ($2.4 billion), horticulture ($2.2 billion), sugar ($1.8 billion) and seafood ($1.4 billion).

Rural Bank Sales and Distribution general manager Simon Dundon said producers should take heart from the continued export growth over the past 12 months.

“It’s promising to see most sectors continuing to capitalise on strong Asian demand. In particular, it’s encouraging to see Australian dairy farmers seeing export growth for the first time in four years,” Mr Dundon said.

“Despite the drought affecting parts of the country, Australia is well positioned for continued export growth in the coming year, thanks to a lower exchange rate and ongoing improvement in market access.”