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Fund management

At Hort Innovation it’s our job to work with industry to invest the banana levy and Australian Government contributions into initiatives to help growers be as productive and profitable as possible, through the Hort Innovation Banana Fund

What is the banana levy?

Levy is payable on bananas that are produced in Australia and either sold by the producer or used by the producer in the production of other goods. The levy rate on banana research and development (R&D) is set at 0.54 cents per kilogram. The marketing levy is set at 1.15 cents per kilogram.

This levy is collected by the Australian Government and then entrusted to Hort Innovation. It is then Hort Innovation’s responsibility to work with industry to invest the levies – together with Australian Government funds in the case of R&D – into strategic R&D initiatives.

You can find full details on the levy rates, plus information on how to lodge a return and make a payment with the Department of Agriculture and Water Resources, on the government website here.

How are levy investment decisions made?

Investments specific to the Hort Innovation Banana Fund are guided by the industry’s Strategic Investment Plan (SIP) and Annual Investment Plan (AIP). SIPs provide an overarching roadmap for industry to follow, and AIPs detail how levy dollars will be spent each year to achieve industry goals.

To learn more about how Hort Innovation makes investment decisions, watch the video below or scroll down for more information.

What is the banana Strategic Investment Plan?

The banana SIP 2022-2026 is the roadmap that helps guide Hort Innovation’s oversight and management of the banana investment program. The SIP lays the foundation for decision-making in levy investments and represents the balanced interest of the banana industry. The most important function of the SIP is to make sure that levy investment decisions align with industry priorities.

In 2021, the banana SIP was refreshed to reflect the current needs of the banana industry. The refresh involved close consultation with growers, industry participants and the wider research community.

The banana SIP details the industry’s strategic goals centred around four outcome areas: industry supply, productivity and sustainability; demand creation; extension and capability; and business insights. Under each of those outcomes, there are industry-specific strategies and key performance indicators that provide guidance on how the banana industry will work towards achieving the outcomes.

For the previous banana SIP, a performance report has been developed to demonstrate how investments delivered in the Banana Fund from 2016/17 to 2020/21 generated impact for banana growers. The report provides an overview of key achievements delivered through each levy investment, and how they relate to the industry’s SIP outcomes and strategies.

While this performance report provides a five-year review of the banana SIP 2017-2021, going forward an annual performance report will be provided for the banana SIP 2022-2026.

View the banana SIP 2017-2021 performance report here.

What is the banana Annual Investment Plan?

While the banana SIP provides an oversight of investment over the next five years, the banana AIP explains how levy funds are going to be invested over a twelve-month period.

AIPs are developed each year by Hort Innovation, informed by the SIP and industry consultation, and then discussed with the industry SIAP for feedback and prioritisation. Investment decisions will be guided by the industry SIP and prioritised based on potential industry impact, as well as availability of levy funds. 

The AIP provides detailed information on:

  • Funding availability
  • How the banana industry is investing against their SIP outcomes
  • Details on current investments across R&D and marketing.

The AIP will be published on this page each year and industry stakeholders will be notified via Hort Innovation’s established communication channels. Download the 2021/22 banana Annual Investment Plan here.

Where do investment ideas come from?

There are many avenues that investment ideas come through – such as growers, delivery partners, previous projects, research networks, industry bodies, regional extension plans, and extension personnel. Before any ideas are progressed, Hort Innovation will investigate whether investment aligns with the SIP and whether investment is needed in this area.

Growers are invited to submit their ideas any time at Hort Innovation’s investment idea form or by contacting a Hort Innovation employee directly. Industry participants and delivery partners can contact a Hort Innovation employee directly if they have an idea outside of the SIP consultation process. 

Any submission or suggestion will be reviewed by Hort Innovation to ensure it aligns with industry needs as identified in the SIP. 

How are investments prioritised?

To gain industry insights for strategic levy investments, Hort Innovation consults with growers through the banana Strategic Investment Advisory Panel (SIAP).

Hort Innovation develops draft investment recommendations based on investment ideas that are aligned to the banana SIP. Each recommendation includes high-level information on the aims of the project, outcomes, deliverables and budget.

The recommendations are then taken to the relevant advisory panel for feedback and prioritisation based on potential impact and available funding. Details of projects that will be progressing are then featured in the AIP.

The banana SIAP consists of industry supply-chain stakeholders, most of whom are levy-paying growers. Panels also include industry representative body representation and, where applicable, a lead agency representative from within the National Horticulture Research Network.

The SIAP is in place to discuss investment ideas, in order to provide advice to Hort Innovation on potential levy investments. The advice they give is guided by the industry's SIP.

The SIAP provides a vital link between meeting the priorities of industry and helping Hort Innovation to make decisions on how, where and when investments need to be made.

How are investments progressed?

After the investment has been prioritised, it’s then up to Hort Innovation to get the project up and running. This involves a tender process where the best delivery partner is chosen to undertake the project. Each delivery partner needs to submit regular milestones that report on their progress and at the end of each investment, a final report is produced that is made available to industry on what the project has achieved.

How to keep track of investments

Investments in the Hort Innovation Banana Fund are detailed in the Your investments page of this Banana Fund section of Hort Innovation’s website. Resources that are produced by the projects – such as fact sheets and guides – are also available through the Research reports and more page.

Hort Innovation also sends alerts about project updates to its members. Paying a levy doesn’t automatically make you a Hort Innovation member, but signing up is free here.

The levy-funded communications program, run through the investment Banana industry communications program (BA18001), also provides regular information on levy-funded activity.

Financial documents

Financial operating statement
July 2021 to March 2022

SIAP details

R&D panel meetings and summaries

Meeting

Date

Location

Summary

1

May 11, 2016

Cairns, QLD

View

2

July 27, 2016

Teleconference

View

3

October 31, 2016

Cairns, QLD

View

4

March 10, 2017

South Johnston, QLD

View

5

October 17, 2017

Cairns, QLD

View

6

March 22, 2018

Teleconference

View

7

July 19, 2018

South Johnston

 

8

September 28, 2018

Teleconference

 

9

September 28, 2018

Teleconference

 

10

December 18, 2018

Cairns, QLD

 

11

May 5, 2019

Brisbane, QLD

View

12

August 4, 2021

Teleconference 

View

13

March 15, 2022

Teleconference

View

The R&D panel 

Name

Organisation

Location

Leon Collins Australian Banana Growers Council QLD
Ben Franklin Costa Group QLD
Rosie Godwin Australian Banana Growers Council QLD
Andre Drenth The University of Queensland QLD
Stephen Spear S.N. Spear NSW
Gavin Mackay Mackays Bananas QLD
Dennis Howe Howe Farming Enterprises QLD
Jeff Daniells Department of Agriculture and Fisheries (DAF QLD) QLD

Strategic marketing panel meetings and summaries

Meeting

Date

Location

Summary

1

May 6, 2016

Brisbane, QLD

View

2

June 30, 2016

Teleconference

View

3

November 1, 2016

Cairns, QLD

View

4

November 7, 2016

Teleconference

View

5

March 24, 2017

Cairns, QLD

View

6

June 28, 2017

Teleconference

View

7

October 31, 2017

Cairns, QLD

View

8

March 1, 2018

Cairns, QLD

View

9

April 27, 2018

Cairns, QLD

View

10

August 6, 2018

Cairns, QLD

 

11

August 6, 2018

Cairns, QLD

 

12

November 2, 2018

Sydney, NSW

 

13

May 3, 2019

Cairns, QLD

View

14

June 10, 2021

Brisbane, QLD and via teleconference 

View

The strategic marketing panel 

Name

Organisation

Location

Doriana Mangili Sweeter Banana Co-Operative  WA
Jim Pekin Australian Banana Growers Council QLD
Paul Inderbitzin Kureen Farming QLD
Andrew Serra Serra Farming QLD
Chaise Pensini Pacific Coast Eco Bananas QLD
Gary Fattore Costa Group NSW
Daniel Mackay Mackay's Marketing QLD
Fund Annual Report 2020/21
Publication
Fund Annual Report 2020/21
Strategic Investment Plan
Publication
Strategic Investment Plan
SIP – At a glance
Publication
SIP – At a glance
Banana Annual Investment Plan 2021/22
Publication
Banana Annual Investment Plan 2021/22