The NT beef sector could see benefits from more than $3 billion in future industry investment over the next ten years, following the launch of a 12-month research project.
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This week, the Cooperative Research Centre for Developing Northern Australia (CRCNA) announced the $470,000 northern Australia industry situational analysis study on behalf of lead researcher CSIRO.
The project will look at the beef sector’s whole supply chain from on-farm production through to export markets.
CSIRO’s Dr Chris Chilcott said proven economic and chain modelling tools will be used to assess the impact of interactions along the value chain and identify key challenges and opportunities facing the northern Australian beef industry.
“Part of our analysis will also explore and analyse the economic benefit associated with potential solutions and derived return on investment,” Dr Chilcott said.
The CRCNA has committed more than $181,100 in funding while industry participants, including the Northern Territory Cattlemen’s Association (NTCA), Meat and Livestock Australia (MLA), AgForce Queensland, the Kimberley Pilbara Cattlemen’s Association (KPCA) and the Cattle Council of Australia (CCA), have committed almost $290,000 in-kind funding towards the project.
MLA general manager, Michael Crowley said the research will help shape future research investments which will benefit producers and the beef industry as a whole.
“By applying a consistent approach to the analysis of the recommendations, the beef industry will be better able to make an objective assessment regarding the best return on any future investment,” Mr Crowley said.
It is expected outcomes from the study could inform the basis of the next Meat Industry Strategic Plan (MISP) and help peak industry bodies and stakeholders, including the CRCNA, develop their future strategic investment plans.
The CRCNA’s northern Australia beef situational analysis project is one of eight industry situational analysis studies funded by the CRCNA over the 2017/18 period.
As part of its commitment to informing broader discussions on further policy and investment, CRCNA is examining rice, forestry, cropping, bush foods, aquaculture, health and infrastructure and communication industries.
A draft report is due to be delivered to the CRCNA and broader industry by mid-2019.
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