This plan is the key planning document that guides the GRDC’s investments in grains research, development and extension priorities for the period 2018–2023. This Plan specifically targets profitability for Australian grain growers, recognising the challenges ahead in the Australian grains industry to improve rates of return, through increased yields and reduced costs. The priorities were determined through extensive consultation involving a broad spectrum of industry participants, government and the GRDC’s representative organisations. During consultation the GRDC considered and sought feedback on the strengths, weaknesses, opportunities, threats and long-term trends in the Australian grains industry. That analysis is contained in this plan, and those factors have helped to identify the key investment areas in which GRDC investments can deliver a quantifiable impact.
The investment portfolio is structured around the key drivers of profitability, which have been defined as: Profit = [Yield x Price – Costs] x Risk. This plan prioritises investments against each of the key drivers and defines investment objectives, performance measures and targets. Detailed information on each of the priorities is provided in the two-page RD&E plan on pages 29–30.
Priorities and key investment targets will be reviewed each year against the needs of the grains industry and will inform the development of the GRDC’s annual operational plans. Each annual operational plan will set out the annual budgets, key investment targets and performance indicators.
Each year’s annual report will examine the GRDC’s success in achieving its investment targets and delivering on its purpose: To invest in research, development and extension to create enduring profitability for Australian grain growers.
Last Updated: 22 Aug 2019 | Created: 03 Jul 2018