Caason Group owned NT property Oolloo Farm delivers better than expected yields in its maiden cropping under new management.
Oolloo, the latest property acquisition by the Caason Group under subsidiary Ti Tree Food & Fodder (TTFF) in May this year, was an investment to support the Group’s interests in Beef and alternative cropping, specifically industrial hemp production. In addition to the anticipated commercial benefit, Oolloo was heralded as a research hub for the Caason Group’s interests in Innovation, R & D activities associated with soil conditioning, remote technologies and alternative crop production.
With its maiden cut completed, the team will focus on its continuous improvement program for the remainder of the FY22 season. Importantly the team now have an opportunity to expand production and implement production regimes to reduce increasing costs associated with imported fertiliser and domestic fuel prices.
Craig Astill, MD & CEO, was confident for the FY22 growing season following the property delivering a maiden cut which exceeded expectations delivering a high quality product and achieving yields well above forecast across all production areas.
Mr Astill said; “The Group has gained significant experience in agriculture generally over the years and the investment in TTFF creates significant opportunities for us commercially. While the team has been on a steep learning curve I am delighted with the results so far. Next steps in our strategy will be to expand our production footprint and implement industrial hemp trials early next year. With a focus on an Organic outcome for our crops, I’m genuinely excited about producing a high quality product that customers can have confidence in purchasing.”