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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 sesame industry include:

1. The availability of suitable genetics and processing facilities has historically hindered the establishment of the industry.

2. There is limited domestic processing capacity for sesame – specialised, large-scale sesame cleaning, grading and dehulling facilities are not established or available to Australian sesame growers. Additionally, the size and scale of the industry presents a challenge to establishing such facilities.

3. The industry has major production and market challenges. These include the lack of effective pest, disease and weed management strategies, crop protection issues, limited agronomic information, postharvest handling challenges, limited access to export markets and competition from large overseas producers.

Industry-specific opportunities

Specific opportunities relating to the Australian sesame industry include:

1. Value-added sesame products have potential in domestic and international markets, offering higher profit margins and diverse applications.

2. Sesame seeds can serve as a protein source for various food products, presenting export potential and value-added food product opportunities.

3. Sesame by-products, including biomass and those generated during processing, can be utilised in animal bedding, biofuels, fertiliser and other industrial products.

4. Out-of-season production in regions with mild winters offers the potential for year-round cultivation.

5. Production of organic and specialty sesame can enable growers to capitalise on growing demand for organic and specialty products. Certification, research and targeted marketing can establish Australian sesame as a premium product.