Australia’s agricultual industry is in serious danger of being ruined due to climate change, according to reports by Stuff
The Australian Bureau of Agricultural and Resource Economics (ABARE) warns that production of wheat, sugar, dairy and beef could fall by about 10 per cent by 2030 if predicted climate change takes effect, Fairfax said.
By 2050, Australia’s total economic output could fall by five per cent, with agricultural exports cut by up to 79 per cent.
ABARE chief economist Don Gunasekera said that climate change could ruin the agricultural sector without innovation such as genetic modification.
“But I think the message has to be not just doom and gloom, it’s about how we can convert these challenges into opportunities,” he said.