Agricultural research has provided, and will continue to provide, substantial returns on investment for New Zealand. The need for ongoing investment in plant research in New Zealand is highlighted by the fact that 43% of our total export earnings are generated from five major plant species. Estimates of the returns from investment in R&D are about $8 for each $1 invested, which even with discounting for the lag between investment and return, has shown a benefit to cost ratio of approximately 3:1. The current level of public and private investment in R&D is well below average among OECD nations, and New Zealand's R&D environment is unstable, with large shifts in funding leading to loss of key research capabilities. Integrated research teams that have strong industry involvement offer the best conduit for communication between the developers and adopters of new technologies. Identification and support of these teams will improve adoption rates and provide long-term competitive advantages for New Zealand agriculture. Keywords: agricultural research, economic growth, research funding, technology adoption
