Victorian farms to receive boost from $200 million fund

Victoria's hard working farmers play a significant role in the state's economy. From protecting their operations with appropriate farm insurance to taking advantage of innovations in technology and infrastructure, any strategy to stay ahead of the game helps agribusinesses remain productive and competitive.

The government recently announced plans to further support this sector, releasing details about a $200 million Agriculture Infrastructure and Jobs Fund, which aims to aid Victorian farmers 'from paddock to port' while fuelling economic growth in the state.

Premier Daniel Andrews, Minister for Agriculture Jaala Pulford, Member for Eastern Victoria Harriet Shing and Victorian Farmers Federation President Peter Tuohey jointly provided information about the new fund on August 2 at a farm in Bunyip. The fund will be established pending the passage of a bill in parliament.

"Food and fibre is the future of our economy. This new fund will provide concrete benefits to the many thousands of hard-working farmers and regional Victorians that depend on this important sector," said Mr Andrews.

The $200 million would be used to improve agricultural supply chains and infrastructure, enhancing the competitiveness of companies in the industry. Farm businesses, agribusiness organisations, asset owners and other industry entities can apply for funding for practical project and programs, such as irrigation, energy, skills development, transport and market access efforts.

Mr Andrews also noted that the government will follow through on its promise to lease the Port of Melbourne, providing additional efficiencies for the sectors, such as an export discount. These measures are intended to help Victorian agribusinesses capitalise on promising opportunities in the growing Asian marketplace for fresh produce.

"The Victoria Farmers Federation has a strong belief that the lease of the Port of Melbourne should return a benefit to Victorian agriculture, this announcement of an Agriculture Infrastructure and Jobs Fund is a substantial and needed investment in the development of our agricultural sector," noted Mr Tuohey.

Victoria's food and fibre industry is among the key pillars for the state's economy, adding over $11 billion and providing more then 87,000 jobs.