Western Australia’s Primary Industries: 2021-22 Economic Overview

The Western Australia’s Primary Industries: 2021-22 Economic Overview (WAPIEO) is developed by DPIRD in partnership with the Forest Products Commission. The WAPIEO has a trade focus and provides a single source for consistent statistics and insights on observed industry trends. Director General Statement Western Australia’s primary industries sector is a significant contributor to the state’s economic diversification. Supported by strong international trading relationships, it is also a major export industry with around 60% of our agriculture, fisheries, forestry and food production exported to over 150 international markets. The agriculture, fisheries and forestry industries are also significant contributors to our economy, generating growth and jobs throughout the regions and in metropolitan areas. With agricultural production in excess of $10 billion a year from 2017-18 to 2021-22, and exports more than$8 billion per year over the same period, WA’s established primary industries sector presents a significant opportunity to add more value to our world-class produce beyond the farmgate. This will ensure the food, fodder, fibre, and beverage industry can continue to meet emerging trends in global consumer demand and enable more people across the world to enjoy a taste of our pristine state. This publication is designed to give an overview of the statistics relating to the value of primary production carried out in WA and show trends that have occurred in recent times. It also shows the value of our exports, along with the major destinations for our primary production. I hope you find the information presented in this overview informative and useful. Heather Brayford PSMDirector General December 202

Hidden action, risk aversion and variable fines in agri-environmental schemes *

This note analyses the design of agri-environmental schemes for risk-averse producers whose input usage is only observable by costly monitoring. The scheme penalises producers in proportion to input use in excess of a quota. A striking result is that if the scheme is designed in such a way that producers always comply with the quota, risk aversion is not relevant in determining the level of input use. Copyright 2008 The Authors. Journal compilation 2008 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.