Australia’s National Farmers’ Federation (NFF) has announced a new initiative to attract the investment, the peak body says is needed for the industry to reach its potential.
The initiative includes the establishment of an investment fund known as the “Berkeley Calga Agribusiness Fund” (Berkeley Calga) through a partnership between the NFF and Spar Capital (Spar), a boutique investment firm.
NFF President Fiona Simson said the exciting move was part of efforts to enable the farm sector to achieve a production value of $100 billion by 2030.
“For our industry to continue to grow and to be a formidable competitor on the world stage we need investment.
“Investment in capital, infrastructure and new technologies. And we need to think outside the box when determining how to fund this investment.”
Ms Simson said agriculture was currently enjoying a ‘golden era’ with unprecedented global demand for the nation’s food and fibre, providing growers with overwhelmingly, positive terms of trade
“Now is the time for Australian farming to seize the day. For the first time, agriculture is forecast to achieve a production value of more than $60 billion in 2016-2017.
“By 2040 the sector is estimated to be worth a cumulative $1.2 trillion.
“Each dollar of additional investment in our sector, further cements the industry’s place as a driver of the domestic economy and its potential to vastly increase this contribution.
“However it all hinges on the capital and infrastructure it needs to achieve this growth.”
The Fund this week finalised a long-term funding plan for the Nectar Farms Group, involving initial investment in a 10 hectare semi-closed glass house in Stawell, Victoria.The Stawell project, worth over $80 million, is expected to employ more than 60 people from 2018