A new report has revealed that in 2020-21 Victoria’s nation-leading dairy farmers experienced the best financial returns in more than six years as the sector continues to innovate and excel.
Minister for Agriculture Mary-Anne Thomas released the 2020-21 Dairy Farm Monitor report today, which shows the hard work and resilience of Victoria’s dairy farmers has paid off after experiencing some difficult years responding to recent dry conditions, low water allocations and market volatility.
Agriculture Victoria’s Dairy Farm Monitor project is a collaboration with Dairy Australia to provide critical insight for industry into how the sector is tracking. The annual report is a comprehensive financial and production analysis of 80 Victorian dairy farm businesses in south-western Victoria, Gippsland and northern Victoria, an official press release said.
The quality benchmarking data in the report gives Victorian dairy farmers the ability to make comparisons and identify areas they could change to improve the productivity, profitability and sustainability of their businesses.
While average dairy farm profits were up across most of the state, dairy farmers in Victoria’s north posted the best results, taking advantage of favourable seasonal conditions to record the highest profits this region has seen for 15 years.
Since the last report, farm cashflows have increased from the previous year, with 94 per cent of farms recording a positive return. This financial rebound has enabled farmers to invest back into their businesses by repairing and upgrading infrastructure and machinery and improving pastures.
Victoria is a leading contributor to Australia’s dairy industry, accounting for 77 per cent of Australia’s dairy exports valued at $2.1 billion. The gross value of milk produced in Victoria is worth $2.7 billion (2018-19). The sector supports almost 10,000 jobs with more than half of these workers located in regional Victoria.
The 2020-21 Dairy Farm Monitor report is available on the Agriculture Victoria website.
Follow The Indian Sun on Twitter | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
