Agribusiness buzz in brief

Paine Schwartz has been playing a long game on price since last May, leading a consortium of hopefuls, including US berry business, Driscoll's, and the British Columbia Investment Management Corporation.

The bidders revalued the original $3.50 a share offer down to $3.20 in September, but despite some disillusioned voices at this week's shareholders meeting, 98.3 per cent of the votes cast supported the takeover.

The sale is subject to approval by the Federal Court of Australia, but unless any unforeseen issues arise in the coming week Costa shares will be suspended from trading on the Australian Securities Exchange on February 8.

Costa Group, a major Australian hydroponic tomato producer, also grows berries, avocados, citrus and mushrooms, and has farms in Morocco and China.

Although the sale price was criticised by the Australian Shareholders Association as opportunistically low, Costa chairman, Neil Chatfield, thanked current and past shareholders for their commitment to investing in Australian agriculture.

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Earnings prospects for Australia's biggest almond business are looking much brighter after two years of weather and market setbacks.

Select, which has orchards and processing operations in north western Victoria, and orchards in southern NSW and South Australia, is poised to begin a 30,000-plus tonne harvest about two weeks ahead of schedule, with nut quality back up to long term averages.

Helpfully, global almond prices are rising, particularly for higher grade nuts.

Markets have been helped by the US crop's estimated 2023 yield shrinking from 2.6 billion pound harvest to around 2.4b while also suffering quality and sub-optimal nut size issues.

Last trading year Select Harvests posted a $114.7 million net loss after tax having endured flooding, cool weather, falling global prices, rising farm input costs and poor yields.

Managing director, David Surveyor, said the business was still focused on reducing costs and other business improvement initiatives which were making a positive impact as the company made the most of improved seasonal and market conditions.

Climate technology company, Rumin8, has officially opened a manufacturing demonstration plant in Perth, as it moves towards commercialising affordable stockfeed and water supplements which reduce ruminant animal methane emissions.

Officially opened by Western Australia Agriculture Minister Jackie Jarvis, the plant has been constructed to provide technical, manufacturing and cost of production proof of concept results for various formulations of Rumin8's inaugural product.

Chief executive officer, David Messina said the company was confident its pharmaceutical product could cut methane emissions while retaining or improving productivity, but it needed to refine the production beyond the laboratory.

The demonstration plant would produce thousands of doses a day to support large scale field trials of Rumin8's product, then be upgraded to pilot production plant and eventually full commercial operations.

Rumin8 has partnerships with University of Western Australia and Murdoch University laboratories to supplement on-site operations for the testing and validation of product made at the demonstration facility.

The Regional Australia Institute, the Real Estate Institute of Australia and Master Builders Australia will host the National Regional Housing Summit at Old Parliament House in Canberra on February 9, supported by Bendigo and Adelaide Bank, the Australian Forest Products Association, and the National Farmers Federation.

Ticketed seats at the summit have almost reached capacity, although online booking spots are also available.

The event is drawing representatives from local government and communities, federal and state governments, industry and peak body representatives and the not-for-profit sector to identify solutions for regional Australia's housing needs.

The aim is also to ensure those needs are understood and reflected in new and emerging housing policy and investment architecture.

Australia's first regional university, the University of New England, marks its 70th anniversary this month.

The prominent seat of agricultural sector learning, based at Armidale, is planning various events for former and current staff and students, and members of the community throughout 2024.

Vice-chancellor, Professor Chris Moran, observed the New England community fought for decades to get its own university so students who lived at a distance from a city could have better access to higher education.

"For anyone who was prepared to work for it, the University of New England was there as an unconventional alternative to the established metropolitan institutions," he said.

UNE formed as a stand-alone institution on February 1, 1954, having previously been a University of Sydney satellite campus.

It was led by vice-chancellor, Robert Madgwick, who drove UNE's pioneering development of distance education as part of a broader agenda to support regional Australia.

Regional Aviation Association of Australia has appointed Rob Walker as its new chief executive officer to replace Steve Campbell after he ends three years in the job on February 7.

RAAA chairman, Mal Sharp, said Mr Walker's extensive experience in the aviation portfolio, at the Civil Aviation Safety Authority and Airservices Australia, made him the ideal choice.

Outgoing CEO Mr Campbell, who has known him for a long time, said Mr Walker had a great reputation as someone who understood what the industry was going through as well as the government framework the RAAA was working within.

Chemical heavyweight BASF and the International Rice Research Institute (IRRI) have begun a scientific collaboration project in the Philippines to reduce greenhouse gas emissions from rice production.

Running under the name "OPTIMA Rice", the collaboration supports BASF's commitment to enable reduction of carbon dioxide equivalent emissions by 30 per cent per tonne of crop produced by 2030.

Rice is one of the five most widely produced cereal crops globally, consumed by about three billion people every day.

However, because of its geographic expansion and typical manner of wetland cultivation, particularly in Asia, worldwide paddy rice production contributes about 10pc of agriculture's total greenhouse emissions, mainly from continuously flooded wetland rice fields.

BASF and IRRI will explore climate-smart rice farming options, including direct-seeded varieties, nitrogen stabilisers, nutrient and residue management, novel chemistry for rice farmers, and water-saving technologies such as alternate wetting and drying management.

Australian Organic Limited's annual conference in March will hear from global business innovator and author, Robyn O'Brien, addressing the conference theme, "Our Future: Growing Together".

The two day event will focus on three key pillars - business growth, the environment, and people and animals - covering topics such as profitable production systems, proactive management, how to upscale a business, and global organic trends.

National Farmers' Federation president, David Jochinke, and regenerative agriculture expert, Dr Allen Williams, will be among other local and international experts speaking on March 7 and 8 at the Pullman Melbourne.

The conference includes the annual Australian Organic Industry Awards.

Ms O'Brien ranks on the Forbes Impact 50 list of the most notable investors for her work at the intersection of agriculture and climate.

She founded financial services companies Sirona Ventures and rePlant Capital, which scale ag and climate solutions and is now a partner at impact investing platform Montcalm Capital.

The 2024 RAS Foundation's JB Fairfax Award for Rural and Regional Journalism and Communications will go to University of Technology Sydney Bachelor of Communication student, Nick Newling.

Currently in his second year of studies, Mr Newling will have the chance to intern within Australian Community Media, Australian Broadcasting Corporation, and in the media centre of the largest ticketed event in the southern hemisphere, Sydney Royal Show.

He also works as a research assistant at the Centre for Media Transition, contributing to projects that delve into regional media, media standards and complaints and also recently reported from Cairns in North Queensland with The Guardian Australia's Rural Network.

He said this experience further fuelled his passion for shedding light on regional Australia.

Now in its 15th year, the JB Fairfax Award is the only national, rurally focused scholarship program in Australia, providing a $10,000 grant so students are supported to become the next generation of voices within the journalism community.