The CRDC Board met this week for one of its most crucial meetings of the year – making the final decision on which new research proposals will be given funding approval for the 2014-15 year.
During this period, Australian cotton growers, along with the Australian Government, will co-invest $24 million into research and development (R&D) to help improve the performance of the cotton industry (pending final sign off as part of the Commonwealth Government’s budget in May).
This investment is part of more than $200 million invested in R&D by growers and the Government over the past 24 years, managed on behalf of the industry by CRDC, and informed by growers through the Cotton Australia grower advisory panels.
Critically, evaluations conducted into the effectiveness of this research have shown a 7:1 return on investment for growers’ investment into R&D: a $7 benefit to growers for every $1 they invest.
More than 119 preliminary research funding proposals were received and considered by CRDC and the Cotton Australia panels for possible funding – the highest ever – demonstrating the strength of interest in cotton industry research for the benefit of growers, and making it a tough decision for the CRDC Board.
Where are we investing your levy?
The process to approve the successful funding proposals is now underway at CRDC, and although we cannot yet release the specific details of the projects and applicants, we can tell you where your levy will be spent. The following graph outlines the focus of the research that we will be investing in, on your behalf, for the coming year.
- Farmers – including successful crop protection, on-farm resource use efficiency, innovations in cotton production.
- Industry – including stewardship, natural resource management, identifying and responding to threats.
- Customers – including cotton quality, the recognised value of Australian cotton, ensuring future demand for our cotton.
- People – including skilling and educating our industry workforce, creating networks and communication.
- Performance – including measuring and reporting on our industry’s performance, and continuous improvement under best management practices.