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Agribusiness Lunch

The AICC hosted an Agribusiness luncheon with guest speakers Alison Watkins, CEO, GrainCorp and John Murray, CEO, Ridley Corporation.

Ms Watkins spoke about the importance of Agriculture for Australia and the need of investing in agricuture for the long term. Ms Watkins suggested safety needs to be improved in the agriculutral sector, a mature debate should take place on genetically modified food and polical leaders need to consider global factors and not just local issues.

Mr Murray advised that world agrifood demand is increasing with population, income, urbanisation and increasing consumption and that agricultural production neeeds to increase by 60% over the next 40 years to meet the rising demand for food. Asia, including China, India and Indonesia will be the the key drivers of consumption.

Mr Murray predicted poultry will see the biggest growth in meat production in the future and milk production will increase. Ridley, as Australia's premier provider of nutrients, ingredients and feed for the safe and sustaibable production of food from livestock is well placed to meet increased demand.

The preceding speaker was Dr Astorre Modena, General Partner from Israeli Venture Capital Firm, Terra Venture Partners who spoke about Israel's agricultural successes as well as outlining his funds investing activities in cleantech.

To view ABC's The Business coverage click here