Ag helps weak trade surplus
Australia recorded another trade surplus of $2.6 billion in August 2020, partly attributed to a lift in rural goods exports - up 12.4 per cent, although still below pre-COVID-19 levels.
Non-rural exports grew 2.6pc with the rising iron ore price supporting export values and coal exports also up, but trending lower over the year as prices are undermined by weaker demand.
Commonwealth Bank of Australia analysts noted the total export surplus was smaller than July's $4.6b, because of an overall 4.2pc decline in exports against a 2pc rise in imports.
However, if the volatile no-nmonetary gold export trend had been excluded from the calculations, the trade surplus would have been similar to July.
Although exports and imports have been under pressure, Australia's trade balance has stayed inn surplus during the COVID-19 pandemic.
CBA noted imports were now on an improving trend as oil prices recovered the losses experienced early in the pandemic and consumer demand made a recovery and helping to lure more imported goods.
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New fodder chairman
South Australian farmer Brad Griffiths has taken the helm at the Australian Fodder Industry Association, replacing NSW farmer and agronomist Frank McRae.
A board member of the peak body representing the hay, silage and straw supply industry for two years, Mr Griffiths (pictured) manages his family's business at Mallala which focuses on cropping, and domestic and export hay production.
Australia's export hay industry grows more than 1.2 million tonnes a year, and Mr Griffiths wants AFIA to do more to develop this market and extend the considerable growth achieved in the past five years.
Retiring chairman Mr McRae said his replacement's experience in growing, contracting and transporting fodder, would be invaluable to AFIA's leadership.
Mr Griffiths also hoped to grow the fodder industry's profile, showing its role as a useful commodity to enhance livestock operations and help producers manage risk, regardless of seasonal conditions.
"We don't want to be looking towards the next drought to demonstrate the value of our product," he said.
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F2F bootcamp call
Farmers2Founders is recruiting nationally to find producers and small to medium sized farm industry enterprises to participate in its next program.
The national program aims to support agricultural enterprise and technology startups raise capital and launch into their chosen markets.
Supported by AgriFutures Australia, Grains Research and Development Corporation and Meat and Livestock Australia, F2F has previously helped 33 producer led startups which have collectively raised over $580,000 in capital, launched new e-commerce channels, and penetrated international markets.
Producer-led startups ready to scale their business are invited to apply for the 2020 Bootcamp Accelerator.
Each team will receive a $10,000 equity-free grant to go towards company expenses.
Applications close on October 21.
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New Freedom Foods CFO
Freedom Foods' executive rebuild continues with the appointment of Joosee Lemoin to join the dairy and cereal products business next month as chief financial officer.
Ms Lomoine's most previous role was as CFO at listed funeral industry business InvoCare and prior to that held senior finace roles with Telstra, Rio Tinto, Boral and Arnotts.
In July Freedom hired financial services companies Ashurst and PwC to forensically study the company's accounts after confirming an inventory black hole, a $10 million blowout in doubtful debts to $14m and the surprise resignation of its chief financial officer Campbell Nicholas at the end of June.
His departure was followed by the resignation of long serving managing director, Rory Macleod, who was recently replaced in an interim capacity by major shareholder, Michael Perich.
Freedom holds its annual general meeting at the end of November.
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AgriFutures board revamp
AgriFutures Australia has confirmed the appointment of five new directors and one reappointment to the board.
New directors are Cindy Cassidy, Farmlink Research chief executive officer, NSW; Diana Gibbs, consultancy principal with Diana Gibbs and Partners, NSW; Andrew Harris the technical futures and innovation director at Laing O'Rourke, NSW; Daniel Le Feuvre, Australian Bee Services managing director, South Australia, and Emma Robinson a Queensland primary producer.
Dr William Ryan from the Guilbridge Pty Ltd consultancy, Western Australia has been reappointed.
Retiring board members are Dr Tony Hamilton, who joined in 2014, and Dr Kate Andrews, Ian Henderson and Ric Clark who all joined the board in 2017.
Chairperson, Kay Hull, appointed in 2016, was reappointed for three years last year.
Managing director John Harvey has been with AgriFutures Australia since May 2016.
AgriFutures fosters greater collaboration across farm sectors, investing in new and emerging industries and harnessing global innovation opportunities for Australia.
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