00:00Day one of ABAR's Agricultural Outlook Conference has just wound up after a busy afternoon of sessions
00:07which have ranged from discussions on competition policy and how supermarkets have impacted both suppliers and consumers,
00:16some trust discussion on the hot-button issue of energy use and land use and how farmers have to share
00:22that responsibility,
00:23and also a look at how agricultural land might be used further down the track to sequester carbon
00:31and just how much farming country might need to be converted to growing trees or reforestation
00:36and how both of those demands can compete and work together.
00:39So what we found is that about 18 million hectares would be converted to either environmental planning or managed regeneration,
00:46that's by 2050.
00:47It's about 4% of broadacre agricultural land and that would have an impact of about 2% on broadacre
00:54revenue in 2050.
00:56But importantly, because of the underlying trend growth in agriculture, we're still expecting agriculture to grow out to 2050,
01:03even with that modest fall because of carbon planting. So, pretty well a win-win for industry.
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