WHY IMPORTANT TO WISCONSIN: Wisconsin agtech companies could provide helpful products and services.
Farmers in Australia are banking on technology to help them get ahead.
Agriculture is one of the most important sectors for the nation’s economy. Australia’s Bureau of Agricultural and Resource Economics and Sciences (ABARES) is projecting $78 billion AUD ($49 billion USD) worth of agricultural production for 2023-24. That’s a drop from $96 billion AUD ($61 billion USD) the previous year—mainly due to unusually dry weather—but it’s still the third highest on record.
According to the Australian Bureau of Statistics, there are 87,800 agriculture businesses across the country. As of 2020, 55% of Australia’s land was used for agriculture purposes.
As farmers face challenges that include unpredictable weather patterns, rising production costs, and labor shortages, technology is becoming increasingly important.
Farmers are pursuing strategies such as precision farming technologies that use drones and satellite imaging, biotechnology, livestock monitoring devices, and farm robots.
Projects include:
• Costa Group, a leading greenhouse grower, is partnering with an Israeli company to test using robots to pollinate greenhouse tomato farms.
• Qualipac is using robots to remove weeds with knives and wires as a way to reduce herbicide applications.
• Griffith University is working with the Korean Technology Promotion Agency and Earthfix to develop a smart farm in the inner Gold Coast hinterland.
Australia already counts more than 2,500 businesses as agrifood tech, including 550 startups added in 2023, according to the Australian Trade and Investment Commission. It lists more than 20 agrifood technology hubs as well as a variety of grants, loans, and tax incentives.
Wisconsin companies involved in farm technology or supplies may find opportunities to participate in Australia’s growing agtech economy.
