Key points:
- MLA’s Market Information team will conduct an extensive price indicator review across all species in the 2023 financial year.
- This indicator review seeks to establish the relevance and reliability of all indicators and may include retiring and respecifying some indicators.
- MLA has conducted wide-ranging industry consultation to ensure stakeholders are included in the process.
In the 2022–23 financial year, MLA’s Market Information team will be conducting an extensive review of all indicators the organisation publishes relating to price data.
This will be the first review of the indicators since 2017 and aims to ensure MLA’s offering of price information remains relevant, timely and accurate to meet stakeholders’ needs, while promoting industry-wide price transparency.
Adjustments to indicators
The development of new indicators will be included in this review process to ensure MLA is reporting on as much of the market as is available and beneficial to stakeholders.
As a result of this review, some indicators may also be retired. This is to ensure that the indicators MLA provides to industry promote price transparency and are reflective, accurate and reliable in terms of market performance.
On top of this, some indicators may be respecified to ensure their throughput and reliability remains:
- intact
- reflects market conditions accurately, and
- meets stakeholder needs.
Meeting stakeholder needs
To ensure that producers and other industry stakeholders’ needs are met as part of this process, the Market Information team is conducting critical consultation with key industry representative bodies, producers and stakeholders.
This process has and will inform the team on the direction of the indicator review process. It will validate MLA’s thinking in terms of potential adjustments to the indicators to ensure relevant, timely and accurate performance of the market to support informed business decisions.
