15 Jan What does the family farm mean from an Australian perspective compared to a global perspective?
Global Farming by family units
Within the confines of various definitions, there are around 400,000,000 to 600,000,000 family farms globally. This could range from a single 1 acre plot is a subsistence country to 1,000,000 square miles like holdings noted in Northern Australia.
Australian Family Farms
Ian Joseph noted that there are around 136,000 farms in Australia, with about 98% being represented by a family unit. When building in the whole value and supply chain that supports Australian agribusiness, the gross output is $400 billion p.a. compared to that of the mining industry being circa $184 billion p.a. When this agribusiness value chain is broken down by numbers, this represents about 2,100,000 businesses with around 700,000 being family owned and operated.
The Importance of Data Collection and Statistics
Australian agribusiness as a whole represents a high percentage of our GDP. Given this fact, Ian Joseph demonstrates the importance of the accuracy and relevance of ABARE statistics to formulate meaningful and effective policy around this industry space. Complacency in this order of policy protocol will distort critical resource allocation to the detriment of the financial, social urbanisation and sustainability of our country.
Watch the VIMEO
Please sit back and enjoy Ian Joseph extrapolating first-hand knowledge and research into this field which is synonymous to its important linkage into Australia’s financial welfare and wellbeing.
RSP interviews Ian Joseph on comparing ownership of the family farm on a national and global perspective
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