Billions of dollars in capital investment in the agriculture industry will be required each year to reach the National Farmers’ Federations’ $100 billion target for the industry, a new report has found.
The target of reaching $100 billion in farm gate output by 2030 would require $8.7 billion to be pumped into Australia’s agriculture, fisheries and forestry industries every year for the next nine years.
An AgriFutures report found the industry attracts around $1.2 billion of investment per year, with farm gate output valued at $63 billion.
Data modelled in the report shows that current investment in agriculture could limit the growth of the industry to just $84 billion in farm gate value by 2030.
The report, written by…