Hay and Other Crop Growing in Australia - Industry Market Research Report

Soggy: Severe weather conditions have cut hay yields as fertiliser costs keep rising

Hay and other crop growing income has been highly volatile over the past five years. High levels of annual rainfall have both benefited and challenged farmers in recent years. Crop yields have benefited from ample amounts of rain, yet greater pasture quality has lessened the need for hay and other fodder crops. Bouts of severe flooding have also damaged farmland and crops across parts of Australia. Growing international demand for Australian dairy products has benefited the industry. However, geopolitical and trade tensions with China have softened Australian beef production and therefore demand from feedlots and livestock farms. Farmers focusing on rebuilding their herds has sustained demand for hay and other fodder crops.

Industry revenue is expected to grow by an annualised 5.3% over the five years through 2022-23, to total $1.9 billion.Operators in the industry grow fodder crops such as hay, silage and alfalfa, and other niche crops such as peanuts, ginger, coffee, chicory and lavender. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.