The analyses of 17 projects completed between 2012 and 2017 unveiled a significant Benefit:Cost for the ginger industry between 8.0 and 19.9 to 1 as a result of $1.2 million RIRDC investment – an impressive result given the emerging status of the industry.
RIRDC Managing Director, Mr John Harvey said evaluation of the Ginger RD&E Program five-year plan will inform continued program investment, as well as the impact and benefits of the program.
“The Ginger RD&E Program is making a strong contribution to RIRDC’s overarching goals of investing in the profitability, sustainability and resilience of rural industries and communities,” said Mr Harvey.
“The economic analyses will contribute to planning for the levy funded Australian Ginger RD&E Program. The report is good news for the Australian Ginger Industry and confirms investments with RIRDC are delivering strong industry benefits.”
Australian ginger production is steadily increasing, averaging 8,000 tonnes in recent years with an estimated farm-gate value of $A32 million. On a global scale, Australian ginger is also making its mark, with a reputation for producing premium ginger underpinned by the highest food safety and environmental stewardship credentials.
President of the Australian Ginger Industry Association, Shane Templeton, said he was very pleased with the evaluation, which confirmed the benefits of a ginger levy and potential to expand the industry.
“The partnership between RIRDC and the ginger industry has been fantastic, they have helped us get projects up and running and have created value for growers. The support has been invaluable,” said Mr Templeton.