Pulling the wool: Why we’re no longer riding on the sheep’s back

Australia is no longer riding on the sheep’s back with nursery cut flowers and turf worth more than wool in the agricultural market, new data has revealed. Once the greatest source of national prosperity, wool now accounts for $3.2 billion in terms of production value compared with $3.4 billion for cut flowers and turf.

Data from the Australian Bureau of Agricultural Resource Economics and Sciences (ABARES) shows that wheat and beef are Australia’s most valuable agricultural commodities, making up one third of all production by value in 2022. Wheat increased by $3.3 billion in 2022, reaching a record high of $13.1 billion while canola and cotton lint more than doubled.

Favourable farming conditions in Australia and, conversely, poorer conditions overseas have boosted the agricultural sector significantly, Ray White Group chief economist Nerida Conisbee said.

“We were producing a lot, while others were producing far less,” she said. “As we came out of the pandemic, people began spending more. The Ukraine conflict further complicated wheat markets.”

The result has lead to total agricultural production in excess of $90 billion and land values almost doubling over the past three years.

While the 2022 results have been welcomed, Ms Conisbee said the future is less certain, with international shifts having potentially positive and negative effects. While wheat production is expected to decline as weather patterns become less favourable, the ongoing war in Ukraine should keep prices up. Rice shortages as a result of a decision by the Indian Government to ban exports of non basmati rice to deal with domestic shortages is expected to have a similar impact on that market.

“This announcement is expected to result in the biggest global rice shortage in 20 years,” Ms Conisbee said. “Similarly to wheat, prices are set to rise. Although Australia is not a major rice producer, it will impact the Riverina in southern NSW where around 75 per cent of Australia’s rice is grown.”

Australian actor Chris Hemsworth has joined Archie Rose Distilling Co. as co-owner and strategic business partner as the Sydney spirits company prepares to enter the United States.

The partnership brings Hemsworth together with Archie Rose founder Will Edwards, with the pair aiming to build greater international recognition for Australian whisky.

Founded in Sydney in 2014, Archie Rose has developed a distinctively Australian range of whiskies, gins and other spirits using locally grown grains and native botanicals.

Hemsworth said his involvement grew from a long-standing admiration for the distiller and its use of Australian ingredients.

“I’ve been a fan of Archie Rose for a long time,” Hemsworth said.

“Wherever I am in the world, tasting an Archie Rose whisky immediately transports me right back home, to that feeling of sitting around a campfire in the Australian bush with my mates.

“Their ethos of only using Australian-grown malts to produce flavour-packed whiskies at their Sydney distillery is truly awesome. They’re a brilliant example of what Australia does best, and I can’t wait to share that with the world.”

Three new Australian whiskies

Three whiskies co-created with Hemsworth are scheduled to launch later in 2026.

Made using 100 per cent Australian-grown malts, the whiskies will be released nationally and introduced to the United States as Archie Rose enters that market for the first time.

Further releases are planned for Asia and New Zealand, followed by expansion into the United Kingdom and European Union in 2027.

Archie Rose will continue to oversee distillation and production, while Hemsworth will contribute to storytelling, creative direction, design and content development.

Edwards said the partnership would help introduce Archie Rose—and Australian spirits more broadly—to a larger international audience.

“Our approach has always been about championing local ingredients to create spirits that taste truly Australian,” Edwards said.

“Having Chris join the business as a co-owner allows us to bring that ambition to the world.

“We aren’t just making spirits; we are using Australia’s raw materials and ingenuity as the base for producing the world’s best whisky, gin and other spirits, telling the stories of the growers and the land beneath them.”

A distinctly Australian approach

Archie Rose works with Australian growers to source heirloom and drought-resistant grain varieties for its whiskies, as well as native botanicals for its gins.

Its whiskies are produced exclusively with Australian-grown malts, including rye and barley cultivated specifically for the distiller.

Each malt is milled, mashed, fermented, distilled and matured separately before the components are combined. The process is designed to retain the individual character of each grain.

For its gins, Archie Rose uses cold distillation to help preserve the character of individual botanicals.

The company says it has received more than 450 awards, including World’s Best Rye Whisky twice, Australia’s Best Single Malt Whisky five times and World’s Best Gin.

Archie Rose received B Corp certification in June 2026, recognising its stated commitments to social and environmental performance, transparency and accountability.

The company operates its distillery in Botany, Sydney, with a public bar and cellar door in nearby Rosebery.

Hemsworth’s arrival as co-owner marks a significant change for the previously family-owned company—and gives one of Australia’s most recognisable actors an active role in the effort to establish Australian whisky as a global category.

Pulling the wool: Why we’re no longer riding on the sheep’s back

Favourable weather patterns have provided record profits in some areas of agriculture but future forecasts are mixed

Three new Australian whiskies

A distinctly Australian approach