With the investment of $AU1 million dashboard helps farmers to avail greater price transparency for informed decision making as per the market trends
Australia has launched a new tool to increase price transparency in the winegrape industry that is set to be a great benefit for producers and consumers. The practical tool would meet growers’ needs for greater price transparency.
Minister for Agriculture, Fisheries and Forestry Murray Watt formally launched the new interactive Grape Price Indicators dashboard during his address to the Rural Press Club of Victoria.
The dashboard, which brings together 12 different data sources and displays 21 charts in a user-friendly layout, gives a clear picture of the future direction of commercial winegrape prices.
“This tool will provide growers with relevant and easily accessible market information, helping to redress the power imbalances that have traditionally existed in the winegrape and other perishable-goods supply chains. The dashboard will provide them with the tools and insights they need to make informed business decisions” Minister Watt said.
The dashboard project, part of a $1 million investment from the Federal Government, has been delivered by Wine Australia and overseen by a consortium comprising Australian Grape & Wine, the Inland Wine Regions Alliance and Wine Australia.
Wine Australia CEO Dr Martin Cole said that the design of the dashboard was a result of a significant co-design and consultation process with the inland growers and their representatives. The consortium will now work with grape growers across the sector so everyone is best placed to begin using it. The dashboard complements other elements of the project funding, including a digital online analytics platform, and independent winegrape price forecasts to help growers and the wine industry better understand their market and price transparency issues.