Federal Government to support central Queensland beef expo

The Federal Government has pledged $2.5 million in funding for the 2015 Beef Expo in Rockhampton in central Queensland.

The Government says it is made the commitment as part of its bid to renew confidence in the industry.

It is $300,000 more than the Federal Government provided for the event last year.

Prime Minister Kevin Rudd and Agriculture Minister Joel Fitzgibbon made the announcement at the Gracemere cattle exchange, outside Rockhampton.

Mr Fitzgibbon says there are more funding announcements to come.

"The beef industry's worth about $8 billion to the Australian economy," he said.

"Around half of that comes from right here in Queensland, so this is one part of a big package we're developing to help the beef industry.

"I'm very very confident that we can get that money now flowing and that will be hopefully of enormous assistance to many farmers.

AgForce cattle board president Howard Smith has welcomed the funding commitment.

But he says there are other issues in the industry that need to be addressed.

"I think it's great that we elevate our industry and from an overseas perspective I think it's a great opportunity to promote our beef industry," he said.

"But in the mix yes there's certainly other issues at the moment, the live export [market], the drought.

"We need to get some of these free trade agreements organised, particularly Korea.

"The clock's ticking there, so yeah there's a myriad of issues."

Source: ABC News, 17 July 2013