Agriculture Industry in Australia Free-Samples-Myassignementhelp

Question: Discuss about the Reforms in Agriculture Industry in Australia. Answer: The Essence of the Story/ Introduction In todays more competitive era, agriculture industry is one of the most sophisticated as well as highly technical industries. Agriculture industry of a nation plays a major role in the economic growth and development of the nation. The industry is growing rapidly because of food and agriculture is essential to human endurance. Along with this, The Australian agriculture industry has been one of the most innovative and competent industries all around the world. The Australian agriculture industry is well known for its safe and high-quality products. Moreover, the agriculture industry plays a major role in the development of rural and regional areas of the nations. The agriculture sector or industry of Australia highly contributes in the economy of nation. In the year, 2009-2010, the estimated production of the industry is just about $40 billion. This thing shows the growth of the Agriculture industry within the nation. On the other hand, this research essay would be valuable to portra y the major reforms done within the industry. These reforms changed the structure of the industry. Moreover, this essay would also be beneficial to recommend some reforms that are needed for the future growth of the Australian agriculture industry. The Economic Analysis (Reforms in Agriculture Industry in Australia) The agriculture industry of Australia is rapidly growing industry. The governments of nation pay its attention on the growth and development of the agriculture industry. The main reason behind it is that, the agriculture industry contributes in the economic growth and GDP of the nation. It is an essential part of the Australian economy. The Australian agriculture industry contributes approximately 2.3% of GDP (Gray, Oss-Emer and Sheng, 2014). Along with this, the agriculture sector is the prime employer in rural as well as regional communities of Australia. Currently, approximately 400,000 people are engaged in the agriculture sector of Australia. Apart from this, it contributes in the annual GDP growth rate of the nation. The below graph is helpful to illustrate the contribution of the agriculture industry in the GDP growth of Australia: (Source: TRADING ECONOMICS. 2017) On the other hand, the growth of the Australian agriculture industry mainly depends on the reforms or changes that are made by the government of nation. The Common Agricultural Policy (CAP) is considered a major reform in this industry. Under this policy, the government increased the average size of Australian farms to enhance the productivity and profitability of nation (Harris and Rae, 2004). Along with this, with the help of this policy, farmers or producers become able to own their own farms. As a consequence, approximately, 95 percent farms are family-owned in Australia. They operate and manage the farms themselves. They do not spend too much money on the farms of others. Moreover, the family-owned farms increased the production level of farms. As a result, Australian has become the prime exporter of agricultural products in the world (Lockie, 2015). Therefore, it can be measured as a major reform in the Australian agriculture industry. In addition to this, the Australian government made the industry export-oriented. This is another big reform in the agriculture sector of Australia. Along with this, due to this reform, the industry was benefited at the time of deregulation. The industry remains a key contributor to export earnings of Australia. The export earning is an important contributor to the economic growth and development of nation. Moreover, this thing will enhance the dependency of other countries on the Australian market (Marsh MacAulay, 2002). Due to this dependency, the Australias farmers will get appropriate values of their products. The export-oriented structure of the industry improves the standards of living of Australias farmers within the nation. Moreover, the government of nation made reforms in the working environment of the industry. The farmers got a new market environment to improve their productivity and to compete in the market effectually. On the other hand, the reduction of subsidies is a major reform that has occurred within the industry. The Australia government reduced the subsidies by 95% only to reduce the dependency of people on the government of nation (Edwards, 2003). Moreover, with the help of this, the government wants to make the Australians framers more prosperous. This reform has reduced the inequalities in assistance those were responsible to encourage inadequacies in resource use across farms. The reform has significant impact on the economic and sustainable development of the nation. Along with this, the Australian agriculture industry has become supermarket to Asian countries. It is because of its offers high quality and fresh products to the people. Moreover, the use of the advanced technologies is a major reform done in the industry (Gray, Oss-Emer and Sheng, 2014). In this way, it can be assumed that, there are lots of reforms have done with the agriculture industry of the nation. These reforms con tributed into the agricultural productivity growth of Australia. Recommendation to the Key Players of Industry The Australian government is the key player of the Australian agriculture industry. The government should make some reforms for the future growth and development of the industry. First of all, the government should provide tax relaxation to the farmers. It is because of the farmers of nations get low prices of their products. The increased tax will reduce the productivity and standard of living of them. Moreover, the government should conduct training programs to teach more innovative ways of farming. The government should make effective assistance strategies for farmers; so, they can ask for the help if they needed. These changes would be helpful to improve the growth of the industry. Conclusion On the basis of the above analysis, it can be said that, the Australian agriculture industry is fast growing industry in the world. The industry is export oriented and it exports high quality products to other nations. Along with this, it is also observed that, the Australian government mainly emphasis on the agriculture sector to enhance the standard of living of the farmers. Moreover, it is also examined that, lots of revolutionary and dynamic reforms have done within the agriculture sector of Australia. These reforms contributed in the productivity growth of the Australian agriculture industry References Edwards, G. (2003). The story of deregulation in the dairy industry. Australian Journal of Agricultural and Resource Economics, 47(1), pp. 75-98. Gray, E., Oss-Emer, M. and Sheng, Y. (2014). Australian agricultural productivity growth. Research by the Australian Bureau of Agricultural and Resource Economics and Sciences, p.1-52. Harris, D. and Rae, A. (2004). Agricultural policy reform and industry adjustment in Australia and New Zealand. In IATRC symposium on Adjusting to Domestic and International Agricultural Policy Reform in Industrial Countries, June, Philadelphia. Lockie, S. (2015). Australias agricultural future: the social and political context. Report to SAF07 Australias Agricultural Future Project, Australian Council of Learned Academies, Melbourne. Available At: https://www.acola.org.au/PDF/SAF07/social%20and%20political%20context.pdf [Accessed On: 27th April 2017] Marsh, S. P., MacAulay, T. G. (2002). Land reform and the development of commercial agriculture in Vietnam: policy and issues. Agribusiness Review, 10(1), pp.1-20. TRADING ECONOMICS. (2017). Australia GDP from Agriculture. Available At: https://www.tradingeconomics.com/australia/gdp-from-agriculture [Accessed On: 27th April 2017]