Opportunities for grains profit to be explored in western Victoria
Author: Sharon Watt | Date: 13 Aug 2018
Growers in the Wimmera and north west Victoria are about to be given an insight into what makes the top performing grain-growing businesses in southern Australia so successful.
According to a Grains Research and Development Corporation (GRDC) research investment, the top 20 percent of grain businesses are retaining 30% of turnover as net profit, while the average business is retaining closer to 10%.
So, what are these top businesses doing differently to achieve this? A series of GRDC ‘Opportunity for Profit’ workshops – at Kaniva on August 29, Horsham on August 30 and Swan Hill on August 31 – will offer the answers and enable local growers to better understand the profit drivers in their own businesses.
The half day workshops will delve into the results from the GRDC three-year national project investment entitled “the integration of profit drivers and technical information for more informed decisions”.
The project was led by Rural Directions Pty Ltd in the southern region, in association with Meridian Agriculture and Macquarie Franklin.
James Hillcoat, of Rural Directions, says the research has benchmarked more than 300 grain businesses nationally to identify what drives profit in each agro-ecological zone and how the provision of technical information links with these profit drivers.
This insightful information will be explored in detail at the workshops, by the end of which Mr Hillcoat (who is delivering the workshops) says participants will be well placed to identify opportunities for profit within their individual businesses.
“They will go away with an enhanced understanding of the performance of the top 20% growers in their region and will also be able to identify the management traits of a top 20% grower,” he says.
“They will have built their knowledge around the profit drivers that really make a difference in a grain business and will have access to diagnostic tools and processes to easily assess their own business performance.”
James Hillcoat, Rural Directions
Phone 08 8841 4500
Sharon Watt, GRDC
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