Victoria’s globally recognised and technology-integrated agriculture sector is a key contributor to Australian food production. Home to a quarter of the country's farm businesses, Victoria’s diverse agricultural output includes meat, grains, fruit, vegetables and dairy products.
Victoria accounts for one quarter of Australia’s total agricultural production, including 62% of Australian milk and more than 40% of its lamb. Victoria is also a hub for food processing, supported by state-of-the-art technology, high-quality food safety systems and a skilled workforce.
Gross Value of Agricultural Production (GVAP) rose to A$17.8 billion in 2019–20, an increase of 12% from the previous year. The state’s agtech sector is booming, set to be worth A$30 billion by 2030. Helping drive this growth is the Victorian Government’s A$65 million Strong, Innovative, Sustainable strategy for agriculture.
Global firms that have chosen Victoria’s ecosystem as their base to develop and launch new agricultura solutions include Fieldin, Gallagher, Finistere and Netafilm.
Home to several world-class universities, Victoria is a leader in agriculture and food processing research. Collaboration between government, industry and research scientists is fostered in Victoria’s cutting-edge facilities, which include the:
- Centre for AgriBioscience, one of Australia’s premier biosciences facilities
- Grains Innovation Park, a state-of the art facility delivering innovations in areas such as crop genetics, agronomy and farming systems
- ARC Dairy Innovation Hub
- CSIRO Food Innovation Centre, Australia’s most extensive food innovation provider
- Monash University and Bosch agtech facility, which houses a smart farm focused on incubating new methods and technologies.
Incentives, grants and support
Invest Victoria works with international companies seeking to enter the Australian market by identifying opportunities, providing assistance with business cases, and facilitating introductions to partners, suppliers, recruiters and government agencies.
Support is also available from the Victorian Government Trade and Investment offices, which offer tailored market intelligence, insights and guidance for investing in Victoria.
Victoria has one of Australia’s lowest business tax rates and offers investors some of the world's most generous R&D support in a cost-competitive business environment.
Kagome is a Japanese tomato grower and processor with operations across the globe, including offices and processing facilities in regional Victoria. The company processes approximately 200,000 tonnes of locally grown tomatoes at its Echuca headquarters each year. It supplies 45% of the processed tomatoes consumed in Australia and exports to Asia.