Australia is on the cusp of a "golden era" in agriculture production.
Agriculture Minister Barnaby Joyce said national production value this year is expected to exceed $60 billion for the first time.
"The good times are finally here," Mr Joyce told The Australian.
Last year there were record beef, lamb and grain prices and a turn around in the wool market.
There was also a good harvest season.
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Mr Joyce said farmers have been recovering from drought and were benefiting from tariff cuts from free trade deals.
"Across the board we're doing well," he told ABC Radio on Monday.
"This brings money back not just to Coonamble and Coonabarabran (both in NSW) but to Martin Place (Sydney), Collins Street (Melbourne) and Queens Street in Brisbane - it's good for the nation."
Australia is capitalising on a growing middle class in Asian countries where there has been a protein deficit, Mr Joyce said.
