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Innovation, Agricultural Productivity and Sustainability in Australia

image of Innovation, Agricultural Productivity and Sustainability in Australia

Australia’s agriculture and food industries are well placed to contribute to the economy’s future growth given the robust prospects of global food demand and the continuing high international competitiveness of these sectors. There are, however, important challenges that call for new ways to exploit agricultural resources and human capital. The decade-long decline in agricultural productivity growth needs to be overcome, coupled with the need to accommodate uncertainties about the impacts of climate change and to respond to societal demands in the areas of sustainable development and animal welfare. The agro-food sector also needs to absorb exchange-rate and cost pressures created by the mining boom. To tap additional opportunities of the higher value food segments, Australian agri-businesses need new knowledge and capabilities to seize demand signals and value opportunities, particularly from more affluent consumers in Asian markets.

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Investment in the Australian food and agriculture system

This chapter presents an overview of Australian regulations governing entrepreneurship, access to natural resources and products and processes and discusses the extent to which they affect the adoption of innovative practices and the introduction of new products in the country. It also discusses Australian policies related to trade, investment, finance and taxation and their impact on the capacity of farms and agri-food firms to invest and take advantage of market opportunities.

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