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Over 40 animal species are the subject of new animal industry development. The estimated GVP at the farm gate was $280m in 2006/07 and has increased by 40% in the last five-years.
In 2007-08 the Corporation funded over 50 projects covering 17 different new animal industries or enterprises. These projects which include meat, skin, and milk products, are along various segments of the value added chain from production to marketing. For the very small potential industries initially R&D is directed to feasibility studies and/or the development of a business plan.
Funding includes research and development to commercialisation of native and feral animal products where enhancement of the environment and biodiversity are not threatened. Projects relating to native animals are in progress for kangaroo, emu, crocodile, turtles and snakes. Projects relating to exotic livestock continue in farmed rabbit, ostrich, camel, gamebirds, ducks, silk, sheep and goat milk. In 2008/09 the Buffalo Program which previously was included as a separate program in the Established Rural Industries portfolio will be part of the New Animal Industries program.
Key long term strategies