The gross value of total Australian agricultural production increased 20 per cent from 2006-07 to $43.3 billion in 2007-08, according to new figures from the Australian Bureau of Statistics.
The latest ABS report states that most of the increase in the value of agricultural production was driven by increased crop production and higher average prices in 2007-08.
This saw the falls of 2006-07 reversed by a $5.9 billion (33pc) rise in the gross value of crops to $23.8 billion.
But the gross value of livestock slaughterings and other disposals was down 2pc to $12.1 billion as the value of cattle and pigs dropped.
Despite this, the ABS says that during the same period, the value of livestock products increased by $1.5 billion to its highest value in recent years, $7.3 billion.
Marketing costs accounted for $2.9 billion (7pc) of the total gross value of agricultural production in 2007-08.
Improved conditions in 2007-08 saw increases in the production of broadacre crops and their associated prices, the ABS says.
This was highlighted by the increase in the gross values of wheat (up by 102pc to $5.3 billion), hay (up by 74pc to $2.8 billion), barley (up by 116pc to $2.2 billion) and grain sorghum (up by 257pc to $977.4 million).
In contrast, the value of rice continued to fall in 2007-08, down 87pc to $7.3 million.
Continuing to recover from several poor harvests, production and average prices of grapes rose in 2007-08, pushing gross value up by 49pc to $1.7 billion.
Livestock slaughterings and other disposals
The gross value of livestock slaughterings and other disposals decreased $232.3 million to $12.1 billion in 2007-08, the ABS report states.
After the value increases of 2006-07, the gross value of cattle and calves slaughtered dropped 8pc to $7.4 billion as average prices also fell.
In contrast, decreased supply of sheep and lambs drove average prices up, so that the gross value of sheep and lamb slaughterings increased 5pc to $2.2 billion.
In 2007-08, the gross value of pig slaughterings and other disposals fell 4pc to $902 million as the number of disposals and average prices dropped slightly.
The gross value of poultry slaughterings rose 26pc to $1.6 billion as a result of increases in average prices.
In 2007-08, the gross value of livestock products rose 26pc from 2006-07, to $7.3 billion.
This total increase was largely driven by the average price of whole milk increasing by almost a half, which pushed the gross value up by 44pc to $4.6 billion.
Sign up for our newsletter to stay up to date.