The May 2017 Agri Insights report shows that investment intentions among Australian farmers are at record levels. Australian farmers are looking to boost spending and realise opportunities by hiring more staff, getting their families more involved and by using more contractors and advisers. Investment in the beef, wool and lamb sectors in particular are also expected to strengthen too over the next 12 months.
The Regional Business Insights Report: Unlocking Everyday Innovation is a detailed look at innovation in regional businesses. The findings show that although the regional economy is already benefiting from innovation in business, there'd be further potential if every regional business was actively innovating, with the expected improvements in business earnings worth $44 billion.
The May 2016 Agri Insights Index was 9.5 points. Australian farmers indicated their strong intentions for investment, especially in plant and equipment. The survey results also showed that Australian farmers were continuing to value the wisdom of their parents when learning about their agribusiness, but recognised that a changing global marketplace meant farm management is becoming more complex.
Things you should know
CommBank’s Regional Business Insights and Agri Insights findings are published solely for information purposes and are not to be constructed as advice or recommendations. The findings have been prepared without taking account of the objectives, financial situation and capacity to bear loss, knowledge or experience or needs of any specific person who may receive these insights. CommBank believes that the information in these insights is correct and any opinions, conclusions or recommendations are reasonably held or made, based on the information available at the time of its complication and are subject to change without notice. All analysis and views of future market conditions are solely those of CommBank, DBM Consultants, ACA Research and Kynetec. Commonwealth Bank of Australia ABN 48 123 124.