report notes: The report notes that average temperatures increased by about 1C since 1950 and compares Australia's climate over the period 2000 to 2019 with the period from 1950 to 1999 by holding other variables, including farm output and commodity prices, constant, according to The Guardian. Author of report ranking Australia worst on climate policy hits back at PM's claim it's not 'credible'Read more Abares, the Department of Agriculture's science and economics research division, has developed a statistical model called Farmpredict using data from 40,000 farm observations to simulate differences in more than 50 physical and financial farm variables. In a report released on Wednesday, the Australian Bureau of Agricultural and Resource Economics and Sciences has found that since 2000 changes in climate have reduced the revenue of Australian cropping farms by a total of 1.1bn a year. Since 2000, climate change has had a negative effect on the profitability of broadacre farms in Australia. Cropping farms were the worst hit, with revenue down 8% or around 82,000 a farm, and a 35% reduction in profits, or 70,900 for a typical cropping farm. Only Northern Territory farms improved profitability, up 8.7%, with massive cuts to profit in Victoria 37.1% Western Australia -25.8% and New South Wales -25.5% attributed to climate change.
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