NSW workshops target grain business profitability
Author: Sarah Jeffrey | Date: 14 Jun 2018
Grain growers in the Central West region are invited to half-day workshops at Tottenham and Parkes next month to explore key business profit drivers and take advantage of available information and technology to boost production margins.
The workshops will draw upon the results of a three-year national investment by the GRDC on integrating technical data with farm management to make more informed decisions, as well as the long-term findings from a number of large regionally specific farm benchmarking groups across NSW.
Consultants Simon Fritsch and Scott Wallace, of farm business management consultancy Agripath, will be presenting the workshop. Mr Wallace said grain growers have a lot of technical data at their disposal but not necessarily in the format required to leverage profit.
“According to ABARE figures the average grain grower shows a profit of around 3% of assets managed. Growers participating in Agripath Profit Focus programs average around 6% while the top 20% of farms can achieve more than 10% over the long term," Mr Wallace said.
“This means there is potential to lift annual profit from around $300,000 to $1,000,000 on a typical farm where the value of land and machinery is around $10 million.
“The presentation will step through the research findings which identified the common characteristics of the top 20% of growers in Queensland and New South Wales, and will also include collaborative, interactive exercises such as creating a representative farm for the region and analysing a range of scenarios.
“This information will benefit all growers but may be of particular interest to progressive growers or for younger growers striving to build a resilient and profitable business for the long term.".
The two workshops will be presented on Tuesday July 3, from 9:30am to 1:30pm at the Tottenham Golf Club and also on July 4, from 9:30am to 1:30pm at the Parkes Services Club. Attendance is fully sponsored by GRDC with lunch and refreshments provided.
For more information contact Scott Wallace on 0467 669 051 or firstname.lastname@example.org.
Scott Wallace, Agripath
0467 669 051
Sarah Jeffrey, Cox Inall Communications
0418 152 859
GRDC Project code: RDP00013
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