Agribusiness buzz in brief

Ridley, which last month sold its Westbury aquaculture feed extrusion plant in Tasmania to Skretting Australia for almost $55 million, has been consolidating aquafeed production to its expanded Narangba plant outside Brisbane.

Managing director Quinton Hilderbrand said Ridley was well placed to lift earnings and cash flow with a company growth strategy, capital reinvestment program and an aquafeed supply chain rationalisation review to lift profitability.

The company's Project Boost would commit $15m of extra capital expenditure during the current financial year and next year which would see annualised earnings gains of about $9m starting in 2022-23.

Livestock exporter Wellard says shipping activity from northern Australia is still depressed because of historically low trade cattle numbers and record purchase prices, but breeding cattle movements from to northern Asia from southern Australia, New Zealand and South America have lifted demand for its vessels.

The Wellard fleet completed seven voyages in the final quarter of 2020-21, including six long haul trips carrying dairy heifers to North Asia.

The quarter's operating activities generated about $7.7 million in cash - almost 60 per cent of the company's cash generated for the entire financial year.

Its livestock vessels, Ocean Ute, Ocean Swagman and Ocean Drover were in demand from cattle exporters and generated almost $20m in receipts.

"Importantly, this demand is continuing into 2021-22," said executive chairman, John Klepec.

Goat milk powder and baby food business Bubs Australia lifted its gross revenue by eight per cent to almost $13 million in the final months of 2020-21, but will write down the value of its stock after third quarter sales fell almost 40pc on the previous year.

The company reported a 67pc jump in quarter on quarter revenue from its infant formula sales in Australian grocery and pharmacy outlets and a 10pc recovery in its e-commerce sales in China over fourth quarter period a year ago, although overall China was down slightly for the quarter.

Sales through the company's digital daigou sales channel doubled on the same period in 2020.

Chief executive officer Kirsty Carr (pictured) said the goat dairy and marketing business, which also sells cows's milk formula, children's vitamins, organic baby food cereals and snacks, was making solid progress on its COVID-19 recovery, despite a difficult year.

Bubs recently appointed former King and Wood Mallesons leading partner in Sydney Katrina Rathie to its board as an independent director.

Beston Global Food Company's chief executive officer Jonathan Hicks has reluctantly opted not to return to the company after taking three months compassionate leave since April, prompted by a continuing illness within his family.

Darren Flew, the dairy and meat processor's chief financial officer has held the role of interim CEO in Mr Hicks' absence and continues in the job while a search is underway for a permanent replacement.

Beston chairman, Dr Roger Sexton said Mr Hicks had been a hard working and energetic CEO and the right person at the right time for the company as it implemented technical aspects of its second phase strategic business plan.

Meanwhile, Beston has confirmed a 3600 tonne annual contract (initially for 18 months) to supply mozzarella and other cheese products for pizza production by an international food business in Australia.

The contract, worth more than $20 million a year, will take about 50 per cent of Beston's mozzarella output from its recently upgraded dairy plant at Jervois in South Australia.

Farmers are urged to register interest in a new farm management platform combining global climate modelling, local on-farm weather data and alerts to help better manage seasonal crop planning.

Skip is a collaboration between seed supplier Pacific Seeds, Californian climate and data science start-up ClimateAi, and Goondiwindi-based AgTech company Goanna Ag.

The platform lets growers to look at farm-specific short term and seasonal forecasts and even customised crop alerts to assist with on-farm decisions.

"Growers will be able to drop a pin on their location to produce farm specific forecasts, triggered alerts and decision-making tool outputs," said Pacific Seeds marketing manager Andrew Short.

Skip was originally created to assist Pacific Seeds to identify possible climate trends for different Australian farming regions, then identify what new traits and seed varieties would be needed to thrive in those conditions beyond 2030.

However, the company saw the wider benefits for local growers and agronomists with short term and seasonal crop planning.

Prominent Victorian-based abalone producer Yumbah Aquaculture is buying Cameron of Tasmania's family-run oyster farming business which has operated on the state's east coast since 1971.

Yumbah chief executive David Wood said bringing Cameron into the portfolio was a natural progression for the two companies which have worked together on a pioneering joint venture oyster spat hatchery at Port Lincoln on South Australia's Eyre Peninsula.

"Acquiring a like-minded, established and scalable business like Cameron further represents Yumbah's ambition to be Australia's leading shellfish aquaculture company," he said.

Yumbah, founded 20 years ago by a small group of investors whose backgrounds spanned the wool, grain and feedlot sectors and software engineering, also acquired Victorian mussel grower Bay Sea Farms earlier this year.

"We're positioned for future growth, and we see a very positive future for Australian shellfish farming," Mr Wood said.

Cameron of Tasmania general manager, Ben Cameron (pictured), said the decision to join forces with Yumbah was based on a proven working history and the opportunities the onshore abalone-focused Yumbah could bring to his family business.

Mr Cameron will join Yumbah's board and remain general manager of the business that will still carry his family name.

Farm services company Elders has been named the most trusted agribusiness among rural Australians in last month's Roy Morgan Agribusiness Brand Trust Survey.

Managing director Mark Allison said the results, from interviews with 1100 regional Australians, were welcome reassurance the 182-year-old company was maintaining strong relationships with farmers and farming communities.

"Being the most trusted agribusiness is an important indicator that we are doing the right things on the ground with our clients, and at a corporate level we are instilling a strong and healthy culture throughout the company," he said.

The findings coincide with this week's launch of an "Elders for Australian agriculture" marketing campaign which tells stories of producers around the country and their contributions to the industry.

Featuring clients and staff from different communities and industries, it will be shared on Elders website and via social media channels

With less than a week to go before Census night on August 10, the Australian Bureau of Statistics is reminding people they can complete Census questionnaires as soon as they receive their instructions.

"You don't have to wait to complete your form on Census night," said Census executive director Andrew Henderson.

More than 10 million households across the country have been receiving Census letters with instructions on how to complete their form online, or how to order a paper version.

"In some areas, households will receive a paper form and we'll supply a reply-paid envelope for its return," Mr Henderson said.

Anybody yet to receive Census instructions, or wanting to complete a separate Census form to the rest of their household, can get a Census number or request a paper form on the Census website.

Agriculture graduates and young meat industry professionals seeking to kickstart their career can get the jump on the competition at a webinar next week from prominent agribusiness recruiter Nigel Crawley.

Mr Crawley who heads Rimfire Resources, will provide his top tips on 'Making the Most out of Networking Opportunities' at an Intercollegiate Meat Judging webinar at 9am (AEST) on August 10, immediately before the ICMJ Virtual Careers Fair meetings commence at 10am.

Mr Crawley's presentation will cover both what to do and what not to do when the next generation of meat and livestock industry leaders hit the jobs market and meet recruiters from the 37 agribusinesses involved in the virtual careers fair.

"The webinar is designed to help you get the most out of your interaction online with companies and to get tips to make the most out of networking," Mr Crawley said.

ICMJ is a not-for-profit association which aims to inspire and develop future professionals in the global red meat industry, and to build the pool of intelligent industry representatives to give the Australian meat expertise to compete internationally.

Mr Crawley worked in corporate agribusiness in the dairy, rural retail and machinery sectors in Australia, North America and Britain before establishing Rimfire Resources in 2001 with Mick Hay.