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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?

The grower-raised statutory banana R&D levy is set at 0.54 cents per kilogram. The marketing levy is set at 1.15 cents per kilogram.

These levies are 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 and marketing 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.

Where do investment ideas come from?

Great investments start with great ideas, and Hort Innovation encourages all growers and other industry participants to share their thoughts and suggestions for the work they want to see.

Ideas can be submitted any time via Hort Innovation’s investment idea form.

How are levy decisions made?

Investments specific to the Hort Innovation Banana Fund are guided by the industry’s Strategic Investment Plan (SIP). The SIP was developed through close consultation with growers and other industry stakeholders, and outlines key industry priorities for investment.

The SIP document is used like a ‘roadmap’ by the banana Strategic Investment Advisory Panel (SIAP), which is a panel made up of growers and other industry representatives that has a key role to play in the investment process.

The SIAP discusses investment ideas at consultation meetings, with the SIP guiding them, in order to provide advice to Hort Innovation on potential levy investments. Details of the SIAP panellists and summaries of the SIAP’s meetings can be found further down this page.

What happens next?

The SIAP’s advice is used by Hort Innovation to work suitable ideas into project proposals. The proposals are then made public for potential delivery partners to submit responses. Current opportunities are always listed on the partnership opportunities page, in the delivery partners section of this website.

At the end of the process the responses are assessed, often with the assistance of industry, and the best delivery partner for the work is chosen. A contract is then issued and the work begins.

How can I 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 Australian banana industry communications program (BA18001) also provides regular information on levy-funded activity.

 

Financial documents

Financial operating statement
July to December 2019/20

Banana Fund consultation

To gain industry insights for strategic levy investments for the Hort Innovation Banana Fund, we consult with growers through the fund's Strategic Investment Advisory Panel

The Strategic Investment Advisory Panel (SIAP) has two main objectives: to give transparent and robust investment advice; and to ensure investments align to industry priorities by aligning investments to the fund's Strategic Investment Plan. 

See below the SIAP meetings with summaries and the panellists.

 

Panel meetings and summaries

Meeting

Date

Location

Summary

1 (Marketing)

May 6, 2016

Brisbane, QLD

View

2 (R&D)

May 11, 2016

Cairns, QLD

View

3 (R&D)

July 27, 2016

Teleconference

View

4 (Marketing)

June 30, 2016

Teleconference

View

5 (R&D)

October 31, 2016

Cairns, QLD

View

6 (Marketing)

November 1, 2016

Cairns, QLD

View

7 (Marketing)

November 7, 2016

Teleconference

View

8 (R&D)

March 10, 2017

South Johnston, QLD

View

9 (Marketing)

March 24, 2017

Cairns, QLD

View

10 (Marketing)

June 28, 2017

Teleconference

View

11 (R&D)

October 17, 2017

Cairns, QLD

View

12(Marketing)

October 31, 2017

Cairns, QLD

View

13 (Marketing)

March 1, 2018

Cairns, QLD

View

14 (R&D)

March 22, 2018

Teleconference

View

15 (Marketing)

April 27, 2018

Cairns, QLD

View

16 (R&D)

July 19, 2018

South Johnston

 

17 (Marketing)

August 6, 2018

Cairns, QLD

 

18 (R&D)

September 28, 2018

Teleconference

 

19 (Marketing)

August 6, 2018

Cairns, QLD

 

20 (R&D)

September 28, 2018

Teleconference

 

21 (Marketing)

November 2, 2018

Sydney, NSW

 

22 (R&D)

December 18, 2018

Cairns, QLD

 

23 (Marketing)

May 3, 2019

Cairns, QLD

View

24 (R&D)

May 5, 2019

Brisbane, QLD

View

The panel 

Name

Organisation

Location

André Drent h^

University of Queensland

QLD

Cameron Mackay^

Mackays Bananas

QLD

David Tate^

Dave’s Bananas

NSW

Doriana Mangili^

Sweeter Banana Cooperative WA

Stewart Lindsay^

Queensland Department of Agriculture and Fisheries

QLD

Shane Zonta^

Zonta Bananas QLD

Stephen Spear^

SN Spear

NSW

Mark Nucifora^

Fiorito Bananas

QLD

Rosie Godwin^

ABGC

QLD

Andrew Serra*

Serra Farming

QLD

Chaise Pensini*

Pacific Coast Produce Marketing

NSW

Gary Fattore*

Costa Group

NSW

Paul Inderbitzin*

Kureen Farming

QLD

Peter Molenaar*

P and A Molenaar

NSW

Daniel Mackay*

Mackays Bananas

QLD

Leon Collins*

ABGC

QLD

Peter O'Brien

Chair

View biography

^Panel members have been recruited for strategic research advisory purposes only. *Panel members have been recruited for strategic marketing advisory purposes only.

Fund Annual Report 2018/19
Publication
Fund Annual Report 2018/19
Strategic Investment Plan
Publication
Strategic Investment Plan
SIP – At a glance
Publication
SIP – At a glance