A STRONG business case should be the backbone of northern agricultural development.
Speaking at the Northern Food Futures conference, Agrifutures Australia, general manager research and innovation manager, Michael Beer said rather then focusing on production challenges, northern Australia needed to start with a business case.
“One of the things we are finding as we discuss the opportunities for new industries is that the business models that are driving that development,” he said.
“It is about getting a different sort of discussion around the table.
“The normal approach has been to look at the production challenges.
“We see that more and more we have to think through the process of how that particular production system is going to connect with the market and what business structure is going to do that.”
Mr Beer said from Agrifutures perspective there is plenty of opportunity for northern Australia.
“We believe not just on the back of a strong domestic demand for Australian agricultural produce, but that even stronger export demand,” he said.
“Rising wealth, boutique foods, providence and the ability to tap in to a broader attractiveness to our product mix.”
Mr Beer said one of Agrifutures roles was to look out for emerging industries and global opportunities.
“Recently we have finished a global scan, shortlisting 26 plant and animal industries which could provide significant growth, above $2 million an annum,” he said.
“We are looking at those as the opportunity to filter and focus our investment into the future, and to also provide information to the investment community and those joining this phase of intense growth some direction of where that investment could take place.”
“Growing profitability, is about ensuring their is profit, not just in the economic sense, but also in the social and environmental benefit.”
- Sharon O’Keeffe travelled to the Northern Food Futures conference as a guest of major sponsor ANZ.
