The NSW dairy industry has received a welcome boost with the announcement of a new study exploring growth opportunities and the formation of a $1 million project fund.
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The NSW Liberals and Nationals government commissioned the study. Growing the Dairy Industry, to explore on-farm supply chain growth opportunities, alternative marketing options and business models for investment.
The government has also launched a new Dairy Industry Fund, that will invest more than $1 million over the next five years back into projects and initiatives which will grow the dairy industry.
Minister for Primary Industries, Katrina Hodgkinson said “This exciting initiative will provide funding projects that can demonstrate a value-add to any segment of the dairy industry supply chain.”
“This important sector produces more than one billion litres of milk and contributes $1.25 billion to our economy each year, which is why the NSW Liberals and Nationals government has put in place measures to ensure its long-term resilience, profitability and sustainability.”
Global dairy demand is growing in China, South East Asia and the Middle East.
“Export opportunities exist for investment in large scale production facilities sin areas with a competitive advantage in feed, transport and the environment,” Ms Hodgkinson said.
The report has emphasised current milk opportunities in the domestic market with a growing population and demand for milk.
It found that the ongoing need for milk and NSW's cost efficiencies in freight compared with Victoria should underpin price stability into the future.
“We are in the process of appointing an advisory committee, with members from Dairy Connect, NSW Farmers and other groups, to ensure funds are invested according to industry priorities,” Ms Hodgkinson said.
