INSIGHT

Future farm

By Felicity McMahon
Agribusiness & Agtech Agriculture

Key drivers shaping the future of farming

Over the next 10 years, the agribusiness sector will be revolutionised. The amount of change will far surpass what's happened before, and create a whole new way of operating farms and agricultural businesses. Likewise, the expectations for farms and how farms operate will change.

The speed of this change has been exacerbated by COVID-19, which evidenced the need for vertical integration of supply chains and export market diversification by agricultural producers to ensure success into the future. Data and technology is the key driver of this change. This provides both challenges and opportunities; the way data is managed and used on farms and through the agricultural supply change will enable growth, and create time and cost efficiencies.

Also, the importance of provenance to the customer is and will be more critical than ever. Agricultural producers will need the right processes in place and employ the right technology to support and deliver the best products in an ethical and sustainable way.

The key to all of this change is ensuring you have the right governance in place. This will enable producers to limit the complexities of supply chain challenges, deliver assurances customers expect on provenance and agricultural processes (thereby reducing regulatory exposure) and contribute to targeting net-zero climate emissions.

Top six issues for the industry

Supply chains of the future – insight coming soon

IoT technology and connectivity – insight coming soon

Corporate investment and corporate structure – insight coming soon

Sustainability by design: farms as ecosystems – insight coming soon