Agricultural R&D funding remains more than $3 billion in the 2024-25 period according to a recent ABARES report.
ABARES Executive Director Dr Jared Greenville said private investment in R&D continued to grow at a faster pace than public investment.
"Since 2005-06, real private agricultural R&D funding has grown at 4.2% per year, compared to 1.4% per year for public funding," Dr Greenville said.
"While public funding still makes up the majority of agricultural R&D investment, the private sector's growth shows that the sector can see the value in investing in R&D.
"R&D investment is the engine room for agricultural innovation - and the core driver of productivity growth
"R&D investment enables the delivery of new technology, practices and knowledge into the Australian agricultural system and previous ABARES work has confirmed the importance of R&D to productivity growth of the sector."
ABARES latest update on agricultural research and development (R&D) investment in Australia contains key information on R&D funding and expenditure, enabling users to access the latest data and generate personalised views to suit their needs.
