$210 million pledged to fast-track food sector growth in digital economy
Last week the Federal Government announced $50 million in funding for the Food Agility Co-operative Research Centre (CRC). With existing commitments from private business and universities it will see $210 million invested over 10 years, and 54 partners from across the agri-food value chain working together to stimulate industry growth through digital transformation.
Antonio Palanca, CEO of the HiveXchange, Australia’s first digital marketplace for wholesale produce and Food Agility partner said “There are four imperatives of the Food Agility CRC. To produce the right thing, to leverage brand Australia, to provide access to finance and to build a future workforce. Underpinning the success of all of these is trade – a kind of trade that offers real-time pricing, is low-cost, accessible, efficient and responsive to changing market needs.”
“We are already using digital trading to deliver sustainable growth for producers and industry – from price and demand forecasting, to shorter, more efficient supply chains, through to better market targeting and selling. We have the capacity to achieve this and more, over the next decade the Food Agility initiative will fast-track digital transformation and make the food-industry in Australia the envy of the world” said Palanca.
Find out more about the Food Agility CRC and HiveXchange partnership here