As the agricultural industry goes through current significant change, how do you know if there is a role for new technology? There is plenty of discussion around agtech, but what does it all mean?
It is becoming increasingly clear that if global population reaches 9 billion by 2050 then the production of food and fibre is going to have to drastically increase with less resources.
Therefore technology will need to play a major role in helping producers reduce costs, whilst increasing production through greater yields and strategically targeted inputs. This means in dynamic business’s that are influenced by the weather and commodity markets, capacity is needed to make informed decisions, sometimes fast decisions, technology is enhancing these decisions to be beneficial.
A recent survey of Australian farmers found that the majority sees significant value in digital technology as well as sharing data with other farmers.
Commonwealth Bank of Australia’s Agri Insights report surveyed 1,600 Australian farmers on a range of plans to understand Australian farmers’ intentions for the coming 12 months.
Farmers are intending to increase investment across the majority of aspects in their operations and one in five farmers nationally, said they planned to make an investment in farm technology or innovation over the next 12 months.
Farmers views on the value of using digital technology in their farming operations gave insight into their willingness to share their data among their farming peers. 78% of farmers believe that the digital technology available adds significant value to their operations, and 58% share on-farm production with others. In doing so farmers are learning from each other, citing benchmarking and supporting the industry as their main reasons for sharing.
Positive outcomes achieved by using technology include making informed decisions, improve efficiency and profit, utilise existing data, sharing information with those that matter and increased production through greater yields and strategically targeted inputs.
Impact Ag clients demonstrate the performance impact of utilising agtech, by understanding their current stocking rate and full inventory values, a NSW eastern New England natural grass fed beef producer made an informed decision to sell 2 weeks early, saving the business $26,000 in a pre falling market.
‘What if’ scenarios run by a Victorian grazing operation, gave them the ability to purchase livestock 3 weeks ahead of the market, adding $’s to the trade because they new their position.
By understanding lambing numbers and stocking rates, a first cross lamb producer in southern NSW achieved $24/head more for store lambs by increasing sale weights by 1.5kg year on year.
Impact Ag is at the forefront of evaluating the significance created through the adoption of technology and new innovations on farm. By understanding your vision and business plan, our team, in collaboration with you, can quickly assess your business to understand where the technology can play a role.
At Impact Ag we adopt and implement technology with clients to capture data for better business decision making.
For more information on our Agtech solutions, contact us today
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