Victorian farmers’ investment intentions rebound

16 May 2017

ALEX SAMPSON, The Weekly Times
May 16, 2017 12:01am
INVESTMENT intentions of Victorian farmers are at a record high, rebounding over the past 12 months due to a good season and good prices.

According to new research from the Commonwealth Bank, released today, investment intentions have rebounded strongly across a number of measures including technology, off-farm investment and staffing.

This included investment in drones used to survey properties, understanding water and input management, and behind-the-scenes monitoring such as remote monitoring of stock movements.

“Those sorts of things are really giving farmers access to a lot more data than they’ve had before and reducing the man hours it takes to get hold of it,” Commonwealth Bank Victorian general manager of regional and agribusiness banking Darryl Mohr said.

The Victorian Agri Insights Index, which surveys farmers in relation to 14 key areas of farm business operation, reached 11.9 points, the highest result for the state to date.

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