Almost one in five Tasmanian farms and agribusinesses are planning to increase the involvement of family members in the business, Commonwealth Bank’s Agri Insights survey shows.
The survey showed figures relating to the state’s family farming businesses were the highest in the country, Tasmania Regional and Agribusiness Banking general manager Darryl Mohr said.
Tasmania’s Agri Insights Index reached a record 15.8 points, well ahead of the national index of 12.3, Mr Mohr said.
“There is very positive sentiment to invest in agriculture, including the need for skilled labour and having better access to water and infrastructure,” Mr Mohr said.
“This very robust index reflects a state agribusiness sector that is continuing to expand and thrive, as market access continues to open up and demand for quality Australian product remains very high,” Mr Mohr said.
Tasmanian farmers are focused on developing new markets, investing for future success and preparing the next generation for succession, he said.