Queensland’s rural debt balloons amid drought and rising land prices, report finds

Minister says debt is high quality and shows farmers are investing', but academic believes there are real and unrealised problems'

• Sign up for the Rural Network email newsletter
• Join the Rural Network group on Facebook to be part of the community

Drought and ballooning land values were among the factors that caused Queensland's rural debt to increase by 25% between 2019 and 2021, a survey of the state's rural businesses has found.

The bi-annual report by the Queensland Rural and Industry Development Authority studied the financial health of farmers and rural enterprises and found debt had risen from $19.1bn to $24.06bn over the past three years.