100 passionate young farmers and innovators in rural service businesses attended The 2016 GrowAg Summit, which was hosted by the Australian Government Department of Agriculture and Water Resources and the Rural Research and Development Corporations.
The event encouraged the sharing of ideas around the future of the industry and communicating them back to the Rural Industry Development Corporation and the Department Of Agriculture and Water. The Summit included agriculture and business leaders who are not only farming day to day, but are innovating and challenging their day to day operations and processes.
With a background in beef, cropping, rural economics and property valuation, Murray Davis from Opteon Central Queensland was selected to participate in discussions that touched on a large range of topics and popular new trends in the agriculture industry here in Australia.
“Farming is a very capital intensive industry with an extremely large barrier to entry for younger farmers. The industry needs to evolve to allow greater flexibility in ownership models including corporate or shareholder structures. This would grant the younger generation and agricultural innovators the chance to grow their businesses and thrive in Australia.”
“The service industries around agriculture would also need to move fast with these changes, particularly in the areas of lending and valuation. For us this has meant focusing on how to better address the value and security of a farming business, as well as the land. Currently in rural Queensland, we are seeing an increase in lease operations and joint ventures. This trend has made it more challenging to quantify the impact on value.”
Murray concluded that “as agriculture service providers, it is important for Opteon not only to keep up with these changes, but to lead the way forward with innovations in our own technology and methods in this ever evolving landscape.”