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  Economic Evaluation of Investment in the Fodder Crops R&D Program quantity

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The Fodder Crops R&D Program aims to facilite the development of a sustainable and profitable Australian fodder industry. The Program is funded through RIRDC core funds and a voluntary levy on both domestic hay and exports of cereal hays. The investments made by the Program follow the R&D Plan for the Australian Fodder Industry 2004-2009.

In May 2008 an Evaluation Framework for RIRDC was finalised. This framework, among other things, sets out a process for reviewing each of RIRDC’s programs in the final year of its five year plan. One of the three programs selected for assessment in 2009 was the Fodder Crops Program. As part of each specific program review, three independent investments within the program were randomly selected for an impact evaluation through cost benefit analysis. The three economic analyses provide specific case studies to demonstrate the extent and distribution of benefits that have been, are being, or will be, captured in future. Such information is valuable to not only RIRDC management, but also to the members of the industry (or industries) at which the investment has been targeted.