Industry competitiveness and profitability

Sea port

 

The industry will continue to provide input into trade agreement discussions and seek improvements in terms of trade.

The data collected through DairyBase allows farm business performance to be calculated in a consistent manner across the entire dairy industry, making it an important industry resource. DairyBase goes a long way towards illuminating the business dimensions of a dairy enterprise and in the future will provide valuable information to inform RD&E investment. DairyBase is the first in a suite of tools. A Standard Chart of Accounts has been released, a cash flow tool is in a prototype phase and the first in a series of Farm Business Management capability programs are being piloted.

While the Dairy Futures CRC will finish in June 2016, the board of Dairy Australia approved funding for a new entity, DairyBio. The Victorian government and Dairy Australia are jointly investing $45 million over the next 5 years in a strategic partnership for innovation in dairy bioscience. DairyBio will continue to provide research to substantially improve the key resources of pasture feedbase and herd quality for the dairy industry to increase yield and the productivity of cows.

Dairy Australia has secured funding through the first round of the Federal Government’s $100 million R&D for Profit funding program, which aims to boost funding to nationally coordinated, strategic research that delivers farm gate productivity and profitability outcomes for Australian farms. Funding will be used for programs to stimulate private sector extension in Australian agriculture to increase returns from R&D; improve profitability of cows; improve irrigation performance; and turn waste into revenue (fertilizer).

Dairy Australia is also engaging with the second round of the funding program. The industry will also continue its work on trade barriers and other FTAs.