ABARES and CSIRO have analysed how five megatrends shaping Australia’s food and fibre industries in coming decades will present both great opportunities and challenges for farmers, government and the economy.

The Insights article Stocktake of Megatrends shaping Australian agriculture, released today, examines these multiple transformative changes and the impacts for Australian agriculture using latest data and research.

The five megatrends are identified as:

Growth juggernaut: Three billion empowered consumers
Fractal politics: Beware the dance of giants
More from less: The permanent race for advantage
Cascading planetary risks: Coming, ready or not
Disruptive technologies: Opportunities for the brave.

“The article seeks to help farmers, government and industry make informed decisions about an increasingly uncertain future,” ABARES acting executive director Jared Greenville said.

“Each of the megatrends, and the sub trends we explore, involves challenges and opportunities. While the full implications of these megatrends might take decades to play out, it is useful to consider how we are positioned to respond to the changes coming our way.

“We find Australian agriculture has some crucial strengths, including a positive a long-term growth outlook in key markets, and our track record of market-driven productivity growth, innovation and competitiveness.

“Australian agriculture is well positioned, but it is critical that industry, government and communities have the tools and information they need to understand the risks and opportunities they face, so they can create a future they want.

“Well-informed decision making and risk management will remain central to Australian farming and we hope this Insights article supports this process.”