Outlook 2019 - Program and presentations
WEDNESDAY 6 March (2.30pm – 4.00pm)
Managing drought and risk in a changing climate
The recent drought has reignited long standing debates around how farms, rural communities and governments should best respond to the challenges of climate variability.
In setting the scene, ABARES Steve Hatfield-Dodds, and the Bureau of Meteorology’s Karl Braganza will describe the extent of climate variability in Australia and its effects on farm risk. They will also look back, at how farm climate risk has changed over time, and forward at potential policy and technology adaptation options.
Then take part in the Q&A with our panellists whose unique perspectives on drought (from the finance, university, and farm sectors), who together will provide insights on options for improving resilience within the agricultural community, and potential tensions between the multiple goals of drought policy.
Q&A video and transcript
Presentation PDF [1.6 MB]
Video and transcript
Bureau of Meteorology
State of the climate
Presentation PDF [3.5 MB]
Video and transcript
Management of drought and risk a permanent state for farmers
Managing risk and climate variability is a permanent process and has always been there. It is a given for a successful farming business. Profit margins have been significantly reduced creating higher risk. Penalties of having a drought year and/or getting it wrong is higher than in the past. Business growth is essential but creating more risk. Appropriate scale, enterprise diversity, modern technology, grain and fodder reserves, financial management, forward pricing, FMDs, insurance, MPCI - all in mix for risk management. Climate change is just an added risk.
University of Melbourne
Drought should not ever be a surprise to a farmer or policy maker
There are risks that markets can handle and risks that are in the public domain and risks that the public can help facilitate markets managing. Bad drought policy penalises good farmers and the wider economy.
Tackling tough times together and what banks can do to support farmers in managing drought and risk in a changing climate
Through a career working in and alongside Australian rural and regional communities and Australian farmers, Alexandra has a unique perspective on tackling tough times – particularly extreme drought conditions. During this panel session, Alexandra will touch on key themes and learnings from the millennium drought and how shifting priorities and sharing information to work through the challenges helped to support growers. From a community perspective, Alexandra will share the important themes from the ‘Tackling tough times together’ initiative of which she was a key driver during her work with the Foundation for Rural and Regional Renewal. And from a farm business perspective, Alexandra will consider what banks can and should be doing to support farmers in managing drought and risk in a changing climate, including how analysing portfolio trends can help to kick start conversations with farmers to get a better understanding of ‘what if’ scenarios to drive decisions.
| 4.00pm afternoon tea and conference close |
The theme of Outlook 2019 is Tough choices to boost agricultural productivity and resilience