Farmers' pockets have been hit hard by a warmer, drier climate, with broadacre profits slashed by more than 20 per cent over the past two decades.
ABC News: Lucy BarbourMore than $1 billion has been wiped from the value of Australia's annual crop production due to the change in climate over the past two decades, according to a new report.
It found changes in climate since 2000, had reduced the average broadacre farmer's profits by 22 per cent, or about $18,600 per year. "We knew it was big, but we didn't have a precise number before and this model and method allows us to get at that," report co-author Steve Hatfield-Dodds said. "Dry years are more frequent since the year 2000 … temperatures have gone up by about 1 degree since 1950."The ABARES report has thrown up questions about government support for farmers affected by drought, and how best to drive innovation in the sector, as the climate continues to change.
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