A new tool to increase price transparency in the winegrape industry is set to be a great benefit for producers and consumers.
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.
Minister Watt said he was delighted to see government and industry come together to create a practical tool that would meet growers’ needs for greater price transparency.
“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,” Minister Watt said.
“The dashboard comes at a time when the Australian winegrape sector is experiencing significant pressures, and it will provide them with the tools and insights they need to make informed business decisions.”
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.
“Co-design with the sector has been key to the successful outcome of this project,” Dr Cole said.
“The consortium will now work with grapegrowers 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.
For more information on the Grape Price Indicators dashboard visit the Wine Australia website.