• Download report PDF

  Download

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 pasture seed industry include:

1. Violation of plant breeder’s rights (PBRs) due to unauthorised ‘over-the-fence’ sales of seed. Seed companies have invested significantly in breeding new pasture seed varieties and obtained protection under the Plant Breeder’s Rights Act. Slow adoption of new varieties by growers could allow for unauthorised over-the-fence sales, negating the benefit of investment in PBRs.

2. Yield variability affecting pasture seed production. Recent wet seasons have impacted pollination, yield and quality, and in some cases caused weather damage at harvest. Industry knowledge and experience is valuable and variable, with grower expertise significantly impacting consistent and sustained product supply through varying climatic conditions.

Industry-specific opportunities

Specific opportunities relating to the Australian pasture seed industry include:

1. Developing new varieties through breeding for increased resistance to weeds, pests and diseases, improved nitrogen fixation, increased yield, and improved nutritional value. There should also be emphasis on investment to give Australian producers a competitive edge in the global pasture seed industry.

2. Adopting new and improved technology solutions, including industrial drones, probes and other precision agricultural techniques, to make planting, fertilisation, pest detection and harvesting more efficient, and to improve soil conditions. Harnessing digital platforms and online marketplaces can boost accessibility and visibility for seed buyers, stimulating trade and fostering overall industry growth.