ABARES Executive Director Dr Jared Greenville said the cumulative value of loans outstanding has increased from $100.7 billion at 30 June 2021 to $109.9 billion at 30 June 2022.
“The data also shows lending to the farm sector since 2016–17 has increased at an accelerating rate each year,” Dr Greenville said.
Dr Greenville said for broadacre and dairy farms—which collectively accounted for around 68% of the value of farm output in 2021–22—the two main reasons for borrowing had been to fund land purchases and for working capital.
“Analysis of ABARES farm survey data shows that…
