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Economics for Business - Reforms In Agriculture Industry In Australia

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Holmes Institute Sydney

   

HI5003 Economics for Business (HI5003)

   

Added on  2020-03-01

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In this document, we will discuss the Reforms in the Agriculture Industry in Australia. Australia is one of the biggest agricultural manufacturers and exporters around the globe. This sector contributes about a 12% share of the total GDP of the economy. Australia manufactures wide diversity of primary goods including wheat, wool, barley, and vegetables for domestic utilization and export. The agriculture resources of Australia consist of vast industries and gain comparative advantage in broadacre agriculture.

Economics for Business - Reforms In Agriculture Industry In Australia

   

Holmes Institute Sydney

   

HI5003 Economics for Business (HI5003)

   Added on 2020-03-01

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Running head: REFORMS IN AGRICULTURE INDUSTRY IN AUSTRALIAREFORMS IN AGRICULTURE INDUSTRY IN AUSTRALIAName of the StudentName of the UniversityAuthor’s Note
Economics for Business - Reforms In Agriculture Industry In Australia_1
1REFORMS IN AGRICULTURE INDUSTRY IN AUSTRALIATable of ContentsIntroduction......................................................................................................................................3Reason behind the interest of government agencies and agriculture organizations........................3Reforms in Australian agriculture industry.....................................................................................4Recommendations to policyholders.................................................................................................6Conclusion.......................................................................................................................................6References........................................................................................................................................7
Economics for Business - Reforms In Agriculture Industry In Australia_2
2REFORMS IN AGRICULTURE INDUSTRY IN AUSTRALIAIntroductionThe aim of the report is to analyze on the reforms in the agriculture industry in Australia.Australia is one of the biggest agricultural manufacturer and exporter in the globe. This sectorcontributes to about 12% share in total GDP of the economy. Australia manufactures widediversity of primary goods including wheat, wool, barley and vegetables for domestic utilizationand export (Lereboullet et al. 2013). Australia’s mixed cropping system of production hasfacilitated the farmers to be more versatile in the world. This study also highlights on the reasonbehind the interest of government and agricultural entities. It also explains about how theadvancement of Internet of Things (IoT) changes Australia’s agricultural industry. Further,recommendations to policyholders are also discussed in this report.Reason behind the interest of government agencies and agriculture organizations The agriculture sector of Australia consists of vast industries and gains comparative advantage inbroadacre agriculture. Both the horticulture and broadacre industries contribute to 54% and `16%of gross production value. Australia has the capability to create opportunities for the farmersthrough improvement in productivity level (Robertson et al. 2012). Innovation of newtechnologies is one of the major drivers of productivity growth and cost reduction in theeconomy. High growth in productivity has facilitated the farm to maintain its profitability evenin declining phase and improved their output growth. The government agencies and agriculturalorganizations in the industry are mainly interested in knowing the influence of new immigrant inthis sector. Australia’s government agencies also refine new policies in order to attract and retainmore farmer immigrants over the next few decades.
Economics for Business - Reforms In Agriculture Industry In Australia_3

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