Profitability of the industry is set to be the key focus for the Grains Research and Development Corporation following the launch of its five-year research, development and extension plan last week.
Launched by chairman John Woods at the Australian Grains Industry Conference in Melbourne last Wednesday, the plan hopes to overcome challenges and improve growers’ rates of return.
‘‘On every grain farm in Australia, growers are focused on the bottom line. GRDC has shifted from a focus largely on productivity to a focus on maximising growers’ long-term profitability,’’ Mr Woods said.
‘‘Our investment will continue to target yield gains but will broaden its emphasis to include impact on the price of grain received by growers, reducing on-farm costs and managing risk.’’
The profitability of Australia’s grain growers was coming under threat from changing international and domestic markets, according to Mr Woods, who said the impact of a highly variable climate and the unprecedented level of up-front financial risk continued to challenge growers.