Fortune Agribusiness in Northern Territory: What You Need to Know

The Northern Territory is a vast and remote region of Australia, but it's also home to a thriving agribusiness industry. The NT's unique combination of tropical savannas, grasslands, and woodlands makes it an ideal place for growing a variety of crops.

One of the key advantages of farming in the NT is its long growing season. The region's warm and sunny climate means that crops can be grown year-round, with some varieties able to be harvested multiple times a year.

The NT's rich soil and favorable climate also make it an ideal place for raising livestock. Beef cattle, in particular, are well-suited to the region's conditions, and many large-scale cattle stations can be found throughout the NT.

The agribusiness industry in the NT is also supported by a range of government incentives and programs. These initiatives aim to help farmers and producers access new markets, improve their productivity, and develop their businesses.

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Fortune Agribusiness is planning a massive irrigated horticulture farm in the NT, requesting 40,000 megalitres of groundwater per year for 30 years.

This amount represents nearly 40% of the consumptive pool allocated for agriculture, industry, aquaculture, and cultural beneficial uses in the Western Davenport district.

The water use would be an exponential increase from the current 3 billion litres per year, jumping to over 43 billion litres per year.

Groundwater levels are projected to drop by 50 metres after 30 years, affecting ecosystems for tens of kilometres in all directions from the development site.

Fortune Agribusiness would be receiving this water for free from the NT Government, which raises questions about the fairness and sustainability of this arrangement.

The development has little to no consideration of the impacts of climate change, despite the 30-year timeline and expected temperature increases.

Here's a breakdown of the water usage:

Fortune Agribusiness has been a leading player in the agricultural industry for over 50 years. Its success can be attributed to its commitment to innovation and sustainability.

The company's focus on vertical farming has allowed it to increase crop yields by 300% while reducing water consumption by 90%. This approach has also enabled Fortune Agribusiness to produce crops year-round, regardless of the season.

Fortune Agribusiness has also made significant investments in research and development, with a team of over 50 scientists working on developing new crop varieties and farming techniques.

Fortune Agribusiness in NT has made headlines with the largest groundwater extraction licence in the NT's history, allowing them to extract 40,000 megalitres of water a year for their major fruit and vegetable project in Central Australia.

The project, which will supply China, will be located on the 294,000-hectare Singleton Station in the western Davenport region, about 150 kilometres south of Tennant Creek.

Fortune Agribusiness has committed to spending over $150 million to establish a 3,500-hectare irrigation project.

The company plans to launch an eight-year development plan, starting with simple annual crops like onions and rockmelons, before focusing on longer-term permanent tree crops like citrus or grapes.

Here's a breakdown of the water extraction stages:

Northern Territory Controller of Water Resources Jo Townsend confirmed that the licensed amount is sustainable and can be managed without harming other users, environmental assets, or cultural assets, as long as conditions are met.