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The primary objective of the Identifying revenue opportunities for AgriFutures Australia’s rural industries project was to identify potential new and alternate revenue sources within 28 of AgriFutures Australia’s levied and emerging industries, and for Australian agriculture generally. Through a combination of stakeholder consultations and literature reviews, additional, new and alternate revenue sources were identified. These revenue sources range from completely new and novel opportunities to those previously explored but that could benefit from further investment. Similarly, what may be ‘old’ in one industry may well be new and untried in others.

New revenue opportunities may contribute to industry profitability and sustainability in four ways. Firstly, they provide diversification, reducing reliance on existing sources of income and thereby enhancing resilience against economic fluctuations and environmental uncertainties, such as drought or market downturn. Secondly, they can promote sustainable practices and innovation, encouraging industries to adopt environmentally friendly and technologically advanced approaches, which in turn supports long-term viability. Thirdly, they can foster economic growth and job creation in rural areas, helping to counter urbanisation trends and maintain vibrant rural communities. Finally, they can strengthen Australia’s position in the global market by tapping into emerging trends and consumer demands, ensuring the continued competitiveness of its rural industries on a global scale.

Industry-specific challenges

Specific insights relating to the Australian marron industry include:

1. The loss of many larger commercial growers has created a knowledge vaccum, limiting the ability of new industry entrants to access production knowledge.

2. Numerous exporters and processors have departed the industry due to the loss of crucial segments in the post-farm gate supply chain, leading to constrained supply and limited supply chain development overseas.

3. Increasing levels of regulation are resulting in further barriers to entry for new and existing entrants.

Industry-specific opportunities

Specific opportunities relating to the Australian marron industry include:

1. Tourism and experiencing economies – taking advantage of the region’s thriving tourism economy by offering a unique farm tour, stay or hospitality experience.

2. Developing the post-farm gate supply chain, including processing, transportation, marketing and sales; increased marron production will drive this development.

3. Expanding production and providing marron caviar as a luxury product.