Not all farmers are good at sharing production results with their peers, but most see the value in comparing productivity data and beneficial information with each other.
The latest Agri Insights research from Commonwealth Bank of Australia (CBA) suggests farmers’ desire to support their industry’s advancement generally outweighs concerns about competition from their neighbours.
The survey of 1600 farmers found 76pc felt data sharing was valuable for themselves and their broader sector, but only just over half were actively sharing their own production data.
South Australian farmers were the most likely to share production data with others.
They were also most likely to believe farm data sharing was valuable for their industry and most likely to use digital technology to add value to their business.
However, Victorian farmers are most likely to benchmark themselves against the performance of their industry peers.
Interestingly, only 26pc of farmers who thought data sharing was important saw it as an opportunity to benchmark their operational performance.
CBA’s acting agribusiness banking head, Tim Harvey, believed the positive sentiment towards data sharing offered scope for on-farm information to be used anonymously in more meaningful ways which might help more producers make better management decisions.
He said more financial management comparisons or information on input costs and how to manage them productively might be a focus of greater co-ordinated data sharing strategies encouraged by the bank in future.
He said farmers tended to view themselves less as competitors with their neighbours and more as part of an Australian agribusiness ecosystem working to stay competitive on a global scale.
“Farmers have a strong history of supporting each other and although technology may change, the principles of collaboration and co-operation endure in the digital age,” Mr Harvey said.
Of those farmers who saw data sharing was valuable, half felt it facilitated learning from other farmers, and 17pc recognised the industry-wide benefits of reciprocation.
The survey found younger farmers especially excited about digital technology, with 81pc in the 18-years to 44-years age group believing it added value to their enterprise.
Andrew Marshall
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
