Australia’s agriculture industry can leverage its unique position in the global market by investing in innovative technologies and further take the lead in assisting other countries to adapt to new business developments. For some companies such as Unimax, it includes updating agricultural chemical labels, while others involves enhancing farm machinery.
Several factors allow Australia to take advantage of certain developments in the agricultural field, according to Kate Cooper, an innovation expert. Whether it’s about investing in chemical labels or farm machinery, the country may help the global sector by exporting these proven products and technologies, Cooper said. Regarding investments in innovative solutions, Australia is in a unique position involving a higher level of production compared to food consumption will also be useful. As the global population grows, the country can help in addressing the widening gap between food supply and demand in other parts of the world.> Technological advancements serve as another reason since agricultural companies should be able to adapt to certain developments such as using artificial intelligence. After all, investments in the agriculture have been known to provide good returns.
Investments in Australia’s farming sector offered a 16.89 per cent total return over a 12-month period ending in March 2017, according to the Australian Farmland Index. The index tracks 57 farming businesses nationwide. Income returns and capital appreciation reached 8.06 percent and 8.42 percent during the period. The index attributed the strong performance to high beef cattle and lamb prices and good grain crops in 2016. These figures only proved further that investments in agriculture are a good choice, according to AFI Coordinator Frank Delahunty. Delahunty expects investment returns between April and June to be relatively high, as companies conducted independent valuations for finalising annual accounts during this period.
Farming businesses in Australia should not hesitate to invest in new technologies and resources, especially since agricultural investments have been known to provide attractive returns.