Should you Invest in the Dairy Industry?
Dairy is one of Australia’s most important rural industries, producing about 8.8 billion litres of milk in 2018-19 and directly employing approximately 46,200 people. It is the fourth-largest rural industry in Australia generating $4.4 billion in farm gate value in 2018-19. The majority of milk production occurs on the southeast seaboard in Victoria, New South Wales, and Tasmania. Australia exports approximately 35 per cent of its milk production, with exports valued at $3.2 billion in 2018-19. A large proportion of exports are in the form of value-added products such as cheese, butter, ultra-heat treated milk and milk powders. Australian dairy is exported around the world.
Reasons to Invest in the Victorian Dairy Industry
- Victoria is Australia’s largest producing dairy state. It is responsible for shelling out over 62 per cent of Australia’s milk. Hence, investing in this domain would add a great deal of support to those who are in charge of running and maintaining this industry.
- In today’s times, the dairy industry, situated in Australia, offers numerous opportunities that are compelling. Therefore, those who are looking to invest will have no problem reaping profits of their own.
- Victoria’s industry is one that is long-established. Moreover, the quality that is consistent over many years. This is because all of the methods that are utilized are backed by world-class research, development and extension.
- Victoria possesses the ideal atmosphere to complement the dairy industry. The rich pasture fuels the production of plentiful feed and fodder. Additionally, abundant access to water resources ensures the future expansion of production.
- The industry has a strong export focus and a growing presence in large and emerging Asian markets. The long-term demand prospects for Victoria’s dairy industry are strong.
It is safe to say that the Victorian dairy industry is booming at the present moment. Therefore, investing here would be a strategic move ensuring future profits.