For fresh produce marketing in Australia and New Zealand
Camellia Aebischer

BY CAMELLIA AEBISCHER

Investment driving profit Down Under

The Australian vegetable industry has turned an increased profit overall in the 2017-18 season

Investment driving profit Down Under

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In all Australian states sans Queensland and Western Australia, vegetable farm profitability saw a 12 per cent increase from the 2016-2017 season to 2017-2018.

Survey data from ABARES shows the average farm debt decreased by 20 per cent in 2016-17 from the previous year, paving way for new investment.

“Australian vegetable growers made a total of $319 million in new investment, with around half of vegetable-growing farms making capital additions in 2016–17,” said ABARES executive director, Steve Hatfield-Dodds.

“Vegetable growing is our fourth-highest agricultural industry, and made up 6 percent—or $3.9 billion—of the gross value of agricultural production in 2016-17.

“It is big business for Australia, and especially in Queensland and Victoria which combined, account for 57 per cent of the total value of vegetable production in 2016-17,” he said.

The annual survey has been undertaken since 2007, providing a financial overview of the industry, and is funded by Hort Innovation and the Australian Government.

Hatfield-Dodds said that ABARES estimates the average rate of return of Australian vegetable-growing farms was 5.9 per cent in 2017–18.

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