Agribusiness buzz in brief

The purchase follows Zoetis' acquisition of the Jurox company in 2022, which provided the the world's biggest veterinary medicine business with a second Australian pharmaceutical manufacturing site in NSW Hunter Valley.

Zoetis' footprint at the 10 hectare Parkville site is expected to grow to five times it's current operational area, lifting future capabilities to develop and manufacture vaccines for sheep, cattle, dogs, cats and horses.

Zoetis annually supplies farmers with more than 100 million doses of sheep and cattle vaccines alone, and notched up total sales worth $484mn in 2023, up 17 per cent on the previous year.

The Melbourne site currently produces the Ultravac, Pestigard and Vibrovax cattle vaccines, the Glanvac, GlanEry and Scabigard sheep vaccines, and Equivac horse vaccines, along with vaccines for dogs, cats and pigs.

A Fortune 500 company, Zoetis generated revenue of $8.5 billion in 2023.

The veterinary vaccine sector in Australia annually produces 130 million doses companion animals and livestock each year, generating about $67 billion in annual turnover, and employing 428,000 people.

Earnings are on the rise for country-based airline, Regional Express, but Rex has ended the first six months of the financial year with a $3.2 million after tax loss.

The result was a big improvement on the $16.5m loss in the same period last year after a 6.3 per cent rise in revenue to $353m, although rising fuel costs and other operating expenses are clouding the carrier's full year profit outlook.

Rex has been under fire for being slow to resume some of its regional services scaled back or abandoned during the pandemic, saying dislocated supply chains were continuing to restrict its access to spare parts and other needs.

The major regional passenger and specialist air services operator said its subsidiaries would likely drive 2023-24 revenue growth.

Its new joint venture charter business National Jet Express continued to expand, securing seven new contracts in the first half and lifting revenue 15pc to $119m.

National Jet Express' operations have included premium air services to the resource sector, launching seven services in the eight months it has been servicing the industry in Queensland.

The managing director of Bayer Crop Sciences Australia and New Zealand, Warren Inwood, is CropLife Australia's new president, succeeding Paul Luxton, who moved to a regional leadership role with Syngenta in Asia early this year.

Mr Luxton had spent more than a decade on the board of the peak body for Australia's plant science and crop chemical industry.

His director's spot will be filled by Nutrien managing director, Kelly Freeman.

New independent external directors, Kate Stone and Thea Dickinson, have also joined CropLife's board.

Ms Stone is head of consumer, retail and healthcare at the Bank of America with extensive experience within the corporate investment banking sector, while Ms Dickinson is currently a grocery lead at Mars Australia with strong experience in marketing and retail product strategy.

New president, Mr Inwood, brings over 30 years of knowledge and industry experience to the leadership job, and was previously vice president of CropLife's crop biotechnology committee.

The gross value of Australian fisheries and aquaculture production is forecast to grow by a relatively modest 0.5 per cent this financial year to total $3.56 billion.

The Australian Bureau of Agricultural and Resource Economics and Sciences' Outlook 24 conference has been told the lift in harvest value would come from higher prices of wild-caught rock lobster and higher production volumes for various aquaculture species, including tuna, abalone and oysters.

The story for exports remained subdued, with export value expected to slip 2pc to $1.43b in 2023-24 because of declining competitiveness.

Over time the value of farmed aquaculture production was projected to increase 5pc in real terms to $2.21 billion by 2028-29.

"That will see it represent 64pc of total seafood sector production value," said ABARES executive director Dr Jared Greenville.

Farmers and agriculture industry professionals are being invited to grasp a once-in-a-lifetime opportunity, as Nuffield Australia opens applications for 2025 scholarships, offering $40,000 to fund 15 weeks of study overseas.

Nuffield Australia awards 20 scholarships each year, with a focus on advancing sustainable and profitable primary production.

They provide a global learning experience, allowing scholars to remain competitive and grow their skills and capacity in the broader industry.

"The scholarships offer a unique opportunity to visit, learn from and collaborate with some of the world's leading agricultural businesses," said Nuffield Australia chief executive officer and past Nuffield scholar, Jodie Redcliffe.

Nuffield Australia has encouraged applications by May 31 for anybody hoping to research topics relevant to any part of Australian agricultural sector.

Successful recipients will be announced at the Nuffield Australia National Conference in Launceston in early September.

The Regional Australia Institute's next Regions Rising National Summit will be held at the National Convention Centre in Canberra on August 14 and 15.

With regional Australia on the cusp of large-scale investment, from mining, the renewable energy sector and agriculture, the appeal of regional living is attracting thousands of metropolitan movers and driving new thinking about servicing new demands in country communities.

The housing and skills needed to meet the change as the nation moves to net zero greenhouse gas emissions will require fresh regional planning at the frontline, and guidance from summit attendees.

Head of ceremonies for the event will be national and international journalist, Madeleine Morris, who has reported in 20-plus countries during her career with the BBC and the ABC.