October 16, 2020

The drought has broken


The drought has broken and agricultural land values are growing strongly which further underpins our growing agriculture credit book


For the majority of eastern Australia’s farming businesses, the drought has broken, and record crop production is forecast for the 2020/21 season. This comes after three years of dry weather, high water prices, bushfires and general uncertainty facing the sector.

As the chart shows below, key farming regions across northern Victoria and NSW have gone from record low rainfall to the highest rainfall on record in some regions.

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