Digital technology may add as much as A$6 billion ($4.3 billion) to Australian farming income over the next four years, according to the National Farmers’ Federation Chief Executive Officer Simon Talbot.
A new incubator fund to help develop agricultural technology and start-ups will be established as part of a plan designed to boost innovation in the sector, Australian Prime Minister Malcolm Turnbull announced today as he helped launch the initiatives.
The new fund, to be called Sprout, will be introduced alongside an online platform for Australian farmers and a new digital agricultural service, according to an e-mailed statement from the NFF.
Australian agriculture is forecast to reap a record so-called farm-gate return of A$57.6 billion this year, Talbot said in the statement.
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