A particular Roy Morgan survey of Australian farmers exhibits a majority of farmers (57 %) say the largest problem they’re going through is financial circumstances (together with inflation/costs), up 8pc from a yr in the past and up a big 22pc from 2022.
In a transparent second place is Authorities coverage talked about by 23pc of farmers, virtually doubling from a yr in the past (up 11pc from 2023) and up by 17pc from 2022. Over the past two years Authorities coverage has elevated from equal fifth to a transparent second place within the checklist of challenges.
Staffing points, together with discovering adequate labour for his or her farms, are the third most distinguished subject and talked about by 18pc of farmers as the largest problem they face, up 5pc from a yr in the past.
Filling out the highest 5 points have been climate, talked about by 16pc of farmers, enterprise viability, additionally at 16pc and considerably surprisingly, local weather change, talked about by solely 7pc of farmers and down from a yr in the past.
The leads to the particular Roy Morgan Farmer AgTech Survey are primarily based on 1,001 in-depth interviews with Australian farmers carried out throughout April and Might 2024.
High six challenges for Australian farmers led by financial circumstances (incl. inflation/costs)
Supply: Roy Morgan Farmers AgTech Survey April-Might 2024. Roy Morgan Farmer Agribusiness Model Belief Analysis 2022 and 2023. Base: Australian farmers 18+. 2024 n=1,001, 2023 n=1,002, 2022 n=1,230.
Farmers have been requested in their very own phrases to explain the largest challenges they face:
“Unstable costs on the sale gate. Onerous to plan when there’s no stability within the worth of our finish product.” (Beef farmer, QLD)
“Stagnating commodity costs. Ever increased enter prices. Lack of ability to seek out labour. Land worth that’s prohibiting growth as returns on funding are usually not excessive sufficient.” (Sheep and broadacre farmer, NSW)
“Worth takers. Climate and world financial points – all of which we’re unable to regulate. At present the value of what we develop is shameful.” (Beef farmer, WA)
“Sheep being price nothing and feed and fertiliser prices being excessive. With a authorities who desires to close your markets down making every little thing numerically worse.” (Sheep farmer, WA)
Australian farmers are apprehensive about their prospects over the following yr
A majority of Australian farmers (60pc) count on their farming enterprise might be ‘financially higher off’ subsequent yr in comparison with 40pc who count on to be ‘worse off’. Nevertheless, Queensland farmers are much more pessimistic concerning the future with 66pc anticipating their enterprise might be ‘worse off financially’ this time subsequent yr.
Trying ahead, Australian farmers are much more optimistic concerning the future in comparison with how they really feel a few yr in the past. Over two-thirds of farmers (70pc) say their farming enterprise is ‘worse off financially’ than a yr in the past in comparison with solely 30pc who say they’re ‘higher off’.
Of concern, a majority of 58pc of farmers say the following 12 months is a ‘unhealthy time to spend money on rising the enterprise’. A fair bigger majority of 66pc of farmers with an annual income of lower than $100,000 say it’s a ‘unhealthy time to take a position’.
When it comes to the Australian financial system a transparent majority of 69pc of farmers count on the financial system to expertise ‘unhealthy occasions’ over each the following 12 months and the longer-term over the following 5 years. West Australian farmers are probably the most destructive with 87pc saying the financial system will expertise ‘unhealthy occasions’ over the following yr.
Roy Morgan CEO Michele Levine says Australian farmers are involved concerning the yr forward with 57pc mentioning ‘financial circumstances’ as their largest problem and 58pc who say the following 12 months is a ‘unhealthy time to spend money on rising the enterprise’:
“Roy Morgan’s particular Farmer Agricultural Expertise Survey (view webinar on survey results) explored not solely farmers’ views on ‘AgTech’ but additionally their broader views on the challenges they face and the way they regard their very own prospects going ahead.
“The outcomes must be a priority for these concerned with the Australian agricultural business as Australian farmers are apprehensive concerning the yr forward on a number of fronts.
“At the beginning, Australian farmers are involved about financial challenges, together with inflation and costs, that are regarded by 57pc of farmers as the largest problem they face – up sharply by 22pc from two years in the past and properly forward of every other subject.
“As well as, almost 1 / 4 of farmers, 23pc, have the Authorities of their sights, and cite Authorities coverage as the largest problem they face. That is up a shocking 17pc from 2022 when the Albanese Authorities was newly elected.
“Though the problems of economics and Authorities coverage have notably elevated during the last two years, the associated challenges of the climate and local weather change have markedly decreased.
“Solely 16pc of farmers think about the climate their largest problem (down 4pc from a yr in the past) and simply 7pc title local weather change as the highest problem (down 1pc level). The climate was considered the second largest problem in each 2022 and 2023 and now ranks equal fourth.
“Farmers are additionally pretty gloomy on the broader financial setting with over two-thirds of farmers (69pc) anticipating ‘unhealthy occasions’ for the financial system over the following yr and subsequent 5 years and a majority of 58pc saying now’s a ‘unhealthy time to spend money on rising the enterprise’.
“The one vibrant mild is that farmers stay constructive about their very own prospects with a majority of 60pc anticipating their very own farming enterprise might be ‘higher off financially’ this time subsequent yr in comparison with solely 40pc that count on to be ‘worse off’.
“Though this survey was accomplished earlier than this week’s laws to section out dwell sheep exports by Might 2026, there have been already critical considerations raised by farmers – particularly in WA concerning the prospect of the ban – ‘Sheep being price nothing and feed and fertiliser prices being excessive. With a authorities who desires to close your markets down making every little thing numerically worse.’ (Sheep farmer, WA)’ – a widely-held view out west.”
For extra particulars on belief and mistrust within the Agribusiness business, buy the Roy Morgan Farmer AgTech Insights Report here.
In April and Might 2024, 1,001 Australian farmers accomplished Roy Morgan’s Farmer AgTech survey, offering perception into farmers’ expertise with AgTech. Farmers from a variety of farms participated within the survey – Beef, Cropping, Sheep (meat), Sheep (wool), Horticulture, Dairy and different farm varieties, small farms to these over 25,000 hectares, annual income from beneath $100,000 to over $5 million.
The Roy Morgan Farmer AgTech Insights Report particulars insights into farmers together with:
- The largest challenges for farmers at the moment
- Manufacturers most related to AgTech*
- AgTech Use, and Intention to Use
- Forms of AgTech used
- Advantages and obstacles to adopting AgTech
- What farmers would love authorities to do to facilitate AgTech adoption
- How properly farmers really feel that governments, authorities division and business our bodies perceive farming
- Farmer enterprise confidence
- Agribusiness media readership
- Agribusiness finance merchandise
- Evaluation general, in addition to by farm kind, measurement, income, and state
The report contains an govt abstract, charts, tables, and commentary summarising key findings.
*AgTech manufacturers talked about: Ag Chief, AgriWebb, Agworld, Allflex, Bayer, Case, DeLaval, Elders, Farmbot, Gallagher, John Deere, Lely Australia, Mobble, MLA/Meat and Livestock Australia, Nufarm, Nutrien Ag Options, Optiweigh, SwarmFarm Robotics, Topcon, Trimble and Tru-Take a look at.
For extra particulars on farmer belief and mistrust within the Agribusiness business, buy the Roy Morgan Farmer Agribusiness Model Belief Report here or contact askroymorgan@roymorgan.com to take part within the July 2024 Farmer Agribusiness Model Belief Survey for the newest perceptions and model well being for Agribusiness manufacturers**.
Supply: Roy Morgan
** Agribusiness manufacturers embody: AACo, Ace Ohlsson, Adama, Ag N Vet, AG Warehouse, AIRR, AL Chalmers and Sons, ANZ, AWB, AWN, B and W Rural, BASF, Bayer, Bendigo Financial institution, BN Proud, CBH Group, Commonwealth Financial institution, Coprice, Corteva, CropSmart, CRT, Cudgegong Rural Provides, Dairy Australia, Dairy Farmers Group, Delta Agribusiness, DJ Growers, Japanese Rural, Japanese Rural Provides, Elders, Emms Mooney, EPG Seeds, FMC, Fonterra, 4 Farmers, Graincorp, Grover’s Rural Provides, Incitec Pivot, Inghams Enterprises, Irwin Stockfeeds, Kenso Agcare, Kerr and Co, Laucke Mills, Livestock Consulting, Meat and Livestock Australia (MLA), Monsanto, NAB, Norco, Northern Rural Provides, NRI, Nufarm, Nutrien Ag Options, Ozcrop, Pastoral Ag, Rabobank, Reid Stockfeeds, Ridley, Riverina, Rural Financial institution, Sipcam, Summit Fertilizers, Sunfarm, Syngenta, Titan AG, UPL, Wesfarmers, Westpac, Yara Worldwide, YP Ag, and Zoetis.
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