Hydroponic event grows
Victorian Agriculture and Regional Development Minister, Jaala Pulford, will officially open this year’s Hydroponic Farmers Federation conference, where attendance numbers are set to exceed the 280 at the HFF’s previous 2016 event.
International exhibitors, including a delegation from Korea, will join the conference and trade show in Melbourne, from June 25 to June 27.
The program includes a farm tour to the Ball Horticultural Company and Humphries Nursery at Sky and Mooroolbark on June 26, and features speakers on topics ranging from why consumers will buy more hydronic produce, to greenhouse lighting.
- For details visit www.HFFConference.org.au or contact Ruby Hatfield, 03 8692 2038.
New Rural Bank role
Rural Bank has appointed Simon Dundon as its general manager of sales and distribution.
He takes over the role from Andrew Smith, who became head of business banking for Bendigo and Adelaide Bank at the beginning of the year.
Mr Dundon’s appointment follows a local and overseas search process, which identified several strong external and internal candidates.
He grew up on a family farm in western Victoria and worked with Rural Bank partner, Elders, for 30-plus years, in livestock, rural property, management and banking services roles.
Mr Dundon has been in the head of sales at Rural Bank for two years.
Managing director, Alexandra Gartmann, said he had a real understanding of the opportunities and challenges facing Australian farmers and Mr Dundon’s appointment would enable the bank to build on its already strong farm sector relationships.
Maggot farmer raises $135m
Fly farmer and waste-to-nutrient pioneer AgriProtein, has raised a further $135 million from investors with an appetite for the insect protein sector.
Now-UK based, AgriProtein Holdings, will use the money, plus additional local project finance, to fund a series of factories in Africa, the Middle East and Asia.
AgriProtein co-founder, Jason Drew, said the capital raising was a significant vote of confidence in a growth industry producing a sustainable protein for animal diets.
“It reaffirms our position as the leading up-cycler of waste-to-protein and brings us the financial resources for further global expansion,” he said.
The company is “up-cycling” organic waste to tackle food security and waste disposal challenges posed by the world’s burgeoning population, and to help conserve wild-fish stocks by providing an alternative feed base to fish meal.
AgriProtein uses black soldier flies and their larvae to convert organic food waste into a high-protein alternative to fishmeal for fish, poultry, pigs and pet food.
It’s initial focus is the $150 billion global aquafeed market.
Bubs e-commerce deal
Goats’ and cows’ milk formula marketer Bubs Australia Limited has signed a supply agreement with New Times Asia with purchase orders valued at $17 million in 2018-19 and rising to $37m by 2020-21.
“Based on our annualised run rate of Bubs and CapriLac combined trading, the offtake by New Times Asia in 2018-19 will be at least double our total company net sales revenue,” said managing director, Mrs Kristy Carr.
New Times Asia specialises in e-commerce sales and fulfilment in China servicing all major and second tier e-commerce platforms, and already represents many leading global brands, including numerous imported infant formula and milk powder brands.
“The agreement with New Times Asia is a major step in our China expansion strategy, and shows the investment we have made to in building our China presence is bearing fruit.” Ms Carr said.
Montague food help
Family-based fruit marketer, Montague, is continuing on several charitable endeavours to help the lives of those doing it tough.
Partnerships with Foodbank and SecondBite are two of Montague’s biggest charitable undertakings.
Since 2010 it has donated more than 1 million kilograms of fresh apples and stone fruit to Foodbank – including fruit equivalent to more than 361,000 meals in 2017 alone – or a $4.6 million “social return” on investment.
Montague’s partnership with SecondBite for eight years has redistributed 32.3m kilograms of surplus fresh food, equating to more than 64m meals.
What’s retirement cost?
Only about 10 per cent of Australians know how much they will need to retire on according to research, commissioned by financial education service No More Practice Education.
Two thirds of respondents believed they needed less than $1 million to live comfortably in retirement, when the actual amount ranges from $2m to $4m.
The data also highlighted women were 70pc more unlikely to know how much they would need.
NSW led the way with 24pc understanding what sort of retirement savings were required.
“These new figures, paired with the fact that up to 80pc of generations X and Y will fall short of a comfortable retirement, are terrifying,” said finance industry commentator, Vanessa Stoykov.
Ms Stoykov is also the author of ‘The Breakfast Club for 40-Somethings’ a world-first within the finance industry, told as a fable based on fictional characters which each illustrate multiple aspects of savings advice.
The story is through the eyes of six former schoolmates who have made different financial decisions.
- Do you have an agribusiness event or newsy developments within your organisation which could feature in Agribusiness Buzz? Contact andrew.marshall@fairfaxmedia.com.au