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Executive Summary

The Primary Industry Market Indicator (PIMI) is a predictive tool designed to assist the Department of Primary Industry, Fisheries and Mines (DPIFM) to determine, prioritise and allocate effort and resources as related to the potential for new export opportunities or potential increases in existing export markets, and to identify any potential future risks associated with these markets. It also provides to the Northern Territory Government and Government-Industry partnerships high level data to assist in decision making related to policy and strategies. PIMI also assists Ministers and Industry by providing credible, high level data to inform and support export oriented missions to existing or new markets, while providing underpinning data for the attraction of investment into Territory industries identified as having future potential.

The PIMI has a variety of uses which include, but are not limited to:

• Supporting and informing government and agency decisions with regards to the provision of assistance whether R&D or extension
• Underpinning agency promotional and marketing opportunities into the future
• Supporting the prioritisation of Ministerial and high level departmental visits
• Providing a credible component of trade mission support
• Forming part of the case developed to attract investment into the Territory’s primary industries
• Ensuring decisions made across various departments in relation to exports have the potential to be co-ordinated and focussed

How it Works

The PIMI is a framework within which all available data relating to the export of selected primary produce commodities is synthesised and displayed.

Data relating to each commodity category  is obtained from a wide variety of sources including:

• Industry Associations
• Industry journals
• Producers
• Primary Industry web sites
• Industry web sites
• Rural press
• Industry focussed magazines
• Extension officers
• News gathering agencies
• Other organisations or individuals as necessary

This information is then collated by category, weighted, and entered into the matrix structure. It informs the decision regarding each category’s situation which is then displayed in the matrix and colour coded. Information about each product can be accessed by clicking on the individual product. This links to the DPIFM website containing information relating to the specific products.

Due to the complexity of the information and issues examined, a series of codes have been used. These are:

Functionality

In order for the PIMI to function smoothly and provide reliable data its information needs to be regularly updated, checked and verified. This is achieved through rigorous analysis and update of the data by an oversight officer whose task it is to verify and maintain the information on a quarterly basis or if a significant event occurs. In addition, information supplied by other sources will be collated and evaluated by the officer, then incorporated into the matrix at the regular review points. This will ensure that the matrix not only remains current, but continues to expand.