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18 December 2015
Much has been made of the federal government's announcement of a new National Innovation and Science Agenda, which is expected to leave a positive mark on many Australian industries. After a turbulent time for the country's scientific community, following severe cuts under former Prime Minister Tony Abbott, things may be starting to look up.
While there was no new money actually allocated to the federal agriculture portfolio, the wide-ranging benefits of Prime Minister Malcolm Turnbull's new fund are expected to have important implications for the sector.
National Farmers Federation (NFF) CEO Simon Talbot welcomed the announcement from the Prime Minister on December 7, noting that surging demand for Australian produce has the industry feeling buoyant about the future of the country's agriculture.
"Today's announcements facilitate better commercialisation of innovative ideas and research outcomes and in an agriculture context this will mean more farm-ready technology available more quickly," Mr Talbot said.
Funding on the farm
While the lack of new funding for agriculture might be disappointing for some, it shouldn't exactly come as a surprise. In 2012, a study by the NFF found that just 4 per cent of Australian farm income came from government support. It seems a small sum when you consider the percentage of the nation's GDP that comes from agriculture - 12.1 per cent, according to CropLife Australia CEO Matthew Cossey.
To support the continued strength of the industry, the government's promotion of ongoing scientific innovation is welcome, wherever the money itself is diverted,
"A truly productive and competitive agriculture sector that can sustainably contribute to food security in Australia and globally requires access to modern farming technologies," said Mr Cossey.
Insuring your technology
Keeping up with technological improvements in the agriculture sector is vital for you and your farm, and with new technology and equipment comes the need for more dedicated farm insurance. If you're concerned about the level of cover you currently have, make an appointment to speak to your insurance advisor today.
