• CAF secures $21.5m greenhouse and glasshouse asset
• South Australian exporting reaches new heights
• Grants available for Fringe shows addressing mental health
• Rabobank’s Energy Markets Update released
• Global Leadership Academy accepting registrations for 2024
• Offbeat produce to the rescue

CAF secures $21.5m greenhouse and glasshouse asset

Property investment fund Centuria Agriculture Fund (CAF) has acquired a new $21.5 million greenhouse and glasshouse in the Adelaide Plains after hitting $351 million in assets.

Located in Riverlea Park, the facility offers 12 hectares of protected cropping, six hectares of glasshouses and six hectares of double-skinned plastic greenhouses, within a 59-hectare land parcel.

CAF was introduced by Centuria in the 2023 financial year and now provides monthly distributions, daily unit pricing and a five-year liquidity event with a minimum entry investment of $10,000.

The asset, which includes large packing sheds, onsite energy, fertigation and reverse osmosis infrastructure, and dam and bore water licences, continues to be operated by P’Petual.

“The Adelaide Plains acquisition is aligned with CAF’s investment strategy to acquire high-quality agricultural assets, leased to reputable operators with strong ESG credentials and in higher revenue producing sectors such as protected cropping,” said Jason Huljich, Centuria Joint CEO.

Andrew Tout, Centuria Head of Agriculture, said that it “provides an exceptional opportunity for P’Petual to scale-up and implement operational efficiencies” and “it is another great example of Centuria partnering and collaborating with seasoned agricultural innovators.”

– Estee Loke

South Australian exporting reaches new heights

South Australian exports reached record levels last year, with $17.9 billion of total exports in the 12 months ending November 2023.

The state was the top of the nation in export growth for the fourth consecutive month, with a growth of 12 per cent.

China has maintained its place as South Australia’s largest export destination, with $3.2 billion in exports.

South Australian barley has seen an increased demand, with a record $218 million in exports.

Minister for Trade and Investment Nick Champion celebrated the milestone in South Australian trade.

“Our entire state continues to benefit from the hard work of our farmers and growers who are sending our world class produce to major international markets,” Champion said.

– Isabella Kelly

Grants available for Fringe shows addressing mental health

The state government has made grants available for artists whose 2024 Adelaide Fringe performances address mental health.

Artists can apply for up to $5000 to contribute to expenses including travel, accommodation, meals, promotion and printing from the Office of the South Australian Mental Health Commissioner for shows that address mental health themes.

According to the state government, 115 South Australian artists have registered shows that address mental health themes, with a further 54 shows from artists in Victoria and 27 from New South Wales also exploring the topic.

Arts Minister Andrea Michaels said the grants program was a “fantastic initiative designed to enable more open conversations about mental health”.

“Arts and culture has a unique way of helping us understand the world around us,” she said.

“It challenges us, inspires us and brings us together and through these grants, there is the opportunity to promote better empathy and understanding for mental health and wellbeing at our world-renowned Adelaide Fringe.”

– David Simmons

Rabobank’s Energy Markets Update released

Rabobank has released its Energy Markets Update, reporting more positive projected price outlooks in the second half of 2024.

The report noted Brent will range between $71/bbl and $93 bbl in 2024, likely to be averaging $79bbl, compared to $82/bbl in 2023.

Meanwhile, in 2024 NY Harbor ULSD (HO) is projected to range between $2.30/gal and $3.17/gal, with a likely average of $2.71/gal, compared to last year’s $2.82/gal.

ARA Low Sulphur Gasoil is set to range between $620/mt and $925/mt, with a projected average of $778/mt compared to $824/mt in 2023.

TTF will range between €29-51/MWh this year, averaging €38/MWh, compared to €41.50/MWh last year.

Henry Hub is projected to range between $2.26/MMBtu and $3.08/MMBtu and average $2.85/MMBtu, compared to $2.66/MMBtu in 2023.

EUAs will range between €71-91/t this year, with a projected average of €84.20/t, very close to 2023’s average of €84/t.

– Isabella Kelly

Global Leadership Academy accepting registrations for 2024

The American Chamber of Commerce in Australia (AmCham) Global Leadership Academy, a national program for corporate leaders, has opened for 2024 registrations.

The program aims to attract high-potential corporate leaders, with all participants having to be nominated by your CEO or Manager.

The program promises access to a curated selection of industry-leading expert speakers.

“Our seminars are meticulously crafted to provide insights and practical knowledge and equip you with valuable skills for real-world applications,” states AmCham’s website.

Over 1000 future and current leaders have attended the academy previously.

– Isabella Kelly

Offbeat produce to the rescue

Australia’s food wastage costs the economy around $36.6 billion annually and also leads to environmental consequences such as greenhouse gas emissions of 17.5 million tonnes of CO2, according to data from fresh produce provider Offbeat Harvest.

The data suggests that food waste accounts for 3 per cent of Australia’s annual greenhouse gas emissions, decreasing animal mortality rates while wasting 2,600 gigalitres of water needed to grow that food.

Offbeat Harvest is a startup that aims to reduce food wastage by reselling imperfect fruits and vegetables purchased from local farmers at 40 per cent less than supermarkets.

Alex Dask, founder of Offbeat Harvest, said his approach towards the challenge of food waste in Australia is to “educate the market on the importance and value of these products, working towards a more sustainable and less wasteful food system in Australia.”

He said that unique distribution model is designed to maximise agility and responsiveness, allowing real-time inventory adjustments and redirection of valuable but often overlooked “offbeat” produce.

– Estee Loke