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Pre-festive cheer delivered to North Queensland

Wednesday, 2 November 2015

The future growth potential for Queensland’s northern regions underpinned the focus of Suncorp Bank’s North Queensland Roadshow last week, when it travelled through Townsville, Ayr, Atherton and Tully.

The three-day tour brought together more than 200 producers and local business owners from across North Queensland, as well as key thought leaders and specialists from the agribusiness professional community.

Guests heard from Suncorp Bank Senior Economist, Darryl Conroy, who shared his knowledge and insights on the various elements influencing global and domestic economies and commodity markets.

"The global commodity landscape is rapidly changing, and these changes will continue to have an influence on domestic operations,” Mr Conroy said.

“China’s shift in economic activity has created a number of challenges for Australia’s mining sector. However it has also presented a number of opportunities for service-based industries. China now requires less raw resources, and more goods and services for consumption, which is good news for the local agriculture sector.

“We have already started see an upturn in many of Australia’s service sectors, including tourism, education, health and agriculture. This strength has been attributed to the decline in the Australia dollar which has made our services more attractive and affordable for overseas consumers.”

Green Pool Commodities Analyst, Tom McNeill, took to the stage in Ayr and Tully to lead an exploratory discussion on global sugar market trends and factors impacting market prices.

“For the first time in many years 2015/16 will see a deficit in the global sugar market due to reduced production. That is forcing prices higher,” Mr McNeill said.

Suncorp Bank Regional Manager for North Queensland, Stephen Corbett, said the event gave producers and local business owners a unique opportunity to share invaluable insights and connect with industry specialists.

“It has been a challenging few years for many producers across the country, with mixed weather patterns and drier conditions,” Mr Corbett said.

“This tour was designed to give local residents an opportunity to gain an insight into the changing environments in which they operate from industry leaders and learn how to better prepare for the challenges and take advantage of the opportunities.”

Media Inquiries: Ashleigh Paterson 07 3135 2562 or 0407 925 665

About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.

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