Managing the rising costs of production to still make a profit will be in focus at this year’s BCG Trials Review Day on Friday 21 February at Birchip. Peter Newman, Planfarm Advisory farm business consultant based in Western Australia, will highlight how farmers can ensure long term business profitability by making strategic decisions in profitable years.
BCG members will have the exclusive opportunity to hear from Newman as he draws on his extensive experience, working with both growers and industry, to share insights on how to grow a profitable crop and achieve long-term business sustainability.
“I’m looking forward to sharing the characteristics of successful growers and how they make decisions that position them for future success,” Newman said. “Firstly we need to look at operating efficiency and make sure that variable costs match farm income. Then we need to look at below the line costs of finance, personal and machinery. All of these costs are challenging growers at the moment.”
Peter Newman has worked for 30 years in agronomy with a focus on resistant weeds. This experience has informed his move into farm business consulting, where he aids clients near his home town of Geraldton, as well as on the Eyre Peninsula of South Australia.
Newman’s presentation at Trials Review Day will focus on:
- The importance of making strategic decisions during good years to set up long-term success.
- Understanding operating efficiency, with practical strategies to manage variable costs like labour, chemicals, fertiliser and insurance.
- Managing costs including machinery and finance repayments by ensuring they are at the right level of investment for each business.
Newman will also address the financial pressures many growers are facing, including the challenges of rising input costs and balancing debt repayments. Attendees will gain insights into:
- The value of benchmarking their business against others, comparing performance across the top 25 per cent, average, and bottom 25 per cent of enterprises.
- Achieving strong returns on investments, including strategies like optimising nitrogen use efficiency.
“Every season comes with its challenges, but there are always opportunities to improve business performance,” Newman added. “I’ll be sharing practical insights to help growers navigate these complexities while maintaining a focus on long-term profitability.”
BCG’s Trials Review Day is a members-only event, providing growers with tools and insights to improve productivity and profitability. This year’s program is tailored to support members in navigating complex financial and agronomic decisions in the current environment of climbing costs and unpredictable weather conditions. Members are encouraged to RSVP on the BCG website. Become a BCG member today at bcg.org.au or contact the BCG office on (03) 5492 2787.
BCG’s Trials Review Day received funding from the Australian Government’s Future Drought Fund.
