Westpac banks on farming

However more can be done to make Australia’s food and agriculture industries more sustainable, efficient and resilient in an effort to help meet future global demand.

The current rate of food and fibre production needs to exponentially grow to meet the demands of the estimated 2050 global population of 9 billion people.

While global agricultural industries are growing, they’re not growing fast enough to match the population forecast. 

For more than 200 years, Westpac has been backing Australian farmers, helping them to remain adaptable and resilient.

Peta Ward, Westpac’s regional general manager of agribusiness for Queensland, said Westpac is working on initiatives to assist farmers and agribusinesses thrive for future generations. 

“Throughout our 30-year partnership with Beef Australia, Westpac is proud to play a role in connecting beef producers whilst supporting those in the ag industry to share their knowledge, for the greater benefit of the industry,” she said.  

“The Queensland beef industry offers many opportunities in terms of large scale and smaller operations, studs, breeding lots, feedlots and genetics.

“Rowanlea Cattle Station, one of the Platinum properties delegates can visit as part of the Westpac Property Tours program, is an example of a family who is proactively innovating and developing their enterprise throughout the generations.”

The Graeme Acton Beef Connections program is another Westpac initiative, matching young beef producers with experienced mentors, training and personal development opportunities.

Ms Ward said the bank was not only striving to play a bigger role in helping producers adapt and embrace new opportunities but the focus was on helping families navigate the challenges, especially for those who want to capitalise on long-term opportunities to help them expand and grow. This includes working closely with customers to help them reach their business and succession planning goals.  

“Our long-term focus is about supporting the agricultural industry, as it helps our regional and rural communities to flourish,” she said. "We hope through our long-standing partnership with Beef Australia, we can also showcase how important beef is to Queensland. It is an industry we are all passionate about.”