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27 September 2022

Western Australian Agrifood Export eNews

Agribusiness, commercial fishing and aquaculture news from the Department of Primary Industries and Regional Development (DPIRD).  If you have any questions or information to share, please email export@dpird.wa.gov.auSubscribe to Western Australian Agrifood Export eNews.

Understanding and optimising your value workshops

Due to popular demand, the Department of Primary Industries and Regional Development is running further online masterclasses to assist food and beverage manufacturers, primary producers, growers, agribusinesses and those in the food packaging, food waste reduction, food transport and logistics, and agritourism sectors.

If you are looking to better understand the value of your business, how to optimise it, and how to gather external investment and continue the growth of your business, join us in October 2022 for a series of two online masterclasses brought by BDO consultants.

The classes will identify opportunities to increase your business value, help you determine your current and target growth strategies, apply methods to value your business, and assist you understand options for investment, exit and succession. 

To register for the workshops – which cost $39 each to participate – please click on the links below:

Workshop 1 – Understanding your business value
Tuesday 11 October 2022 – 9.30am to 12.30pm (AWST).

Workshop 2 – Optimising your business value and exit strategies
Tuesday 18 October 2022 – 9.30am to 12.30pm (AWST).

No learner preparation is required. It is recommended that participants join using a laptop or desktop computer. All materials are interactive, and an interactive workbook will be sent to you prior to commencement of the course. These workshops are part of our strategy to support the growth and development of WA businesses, contributing to the long-term prosperity of the State. Source and Image: DPIRD

State Government investment in farmer-led research to advance WA agriculture

The Western Australian Government has continued to support farmer-led agricultural research and development, with an investment extension of $2.58 million over two years to the Grower Group Alliance.

The commitment builds on foundation funding for the Alliance, which provides an important catalyst for innovation that increase the productivity and profitability of growers across the Grainbelt.

The arrangement continues to draw on the expertise and resources of the Department of Primary Industries and Regional Development (DPIRD), working hand-in-hand to ensure targeted investments that deliver increased returns.

Since its inception in 2019, the Alliance has worked on programs with several collaborators to leverage more than $50 million of cash and in-kind investment in research, extension, and adoption projects, spanning grains, livestock, horticulture, pastoral and digital data analysis.

"I am pleased to see how the Grower Group Alliance has grown into such a force for WA research, collaborating effectively with DPIRD on trials and projects, while attracting public and private sector investment from across Australia for other initiatives”, said Agriculture and Food Minister Alannah MacTiernan. More... Source: WA Minister for Agriculture and Food | Photo: DPIRD

Emerging opportunities in the EU

In 2021 Western Australia traded $9.2 billion of goods with the European Union (EU), accounting for 3% of the State’s total trade in goods. This was 14% of Australia’s total trade in goods with the EU in 2021. The major exports to the EU in 2021 were gold coins, canola seeds and non-monetary gold.

Join the Chamber of Commerce and Industry WA for a free seminar on Thursday 6 October 2022 from 5pm to 7.30pm AWST at The Platform, Level 3, 256 Adelaide Terrace, Perth, to better understand the tremendous trade and investment opportunities between Western Australia and the EU.

Sectors of opportunity include primary industries, energy, mining and mining equipment, technology and services (METS), manufacturing, construction, transport, warehousing, defence and creative industries and tourism.

There will be an opportunity for questions, as well as networking over refreshments provided in the evening. More... Source: CCIWA | | Photo: Carl Campbell / Unsplash

World Bank: Risk of global recession in 2023

As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies, according to a comprehensive new study released this month by the World Bank.

Central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades – a trend that is likely to continue well into next year, according to the report. Yet the currently expected trajectory of interest-rate increases and other policy actions may not be sufficient to bring global inflation back down to levels seen before the pandemic.

Investors expect central banks to raise global monetary-policy rates to almost 4% through 2023 – an increase of more than 2% over their 2021 average. Unless supply disruptions and labor-market pressures subside, those interest-rate increases could leave the global core inflation rate (excluding energy) at about 5% in 2023 – nearly double the five-year average before the pandemic, the study finds.

The report says global policymakers need to take strong steps to boost global supply, including instituting policies to help increase labour-force participation and reduce price pressures, global coordination to increase food and energy supply, and cooperating to alleviate global supply bottlenecks. More... Source: World Bank | Photo: Manson Yim / Unsplash