The NT Buffalo Industry Council (NTBIC) was first incorporated in 1982 and since 2000 has been directly affiliated with the Australian Buffalo Industry Council.

The Australian buffalo industry is divided into two distinctly different enterprises - Swamp buffalo harvested for meat either through live export or abattoirs, and buffalo dairy based on the Riverine breed. The NT Buffalo Industry Council services both of these parts of the industry

The NT is the only Australian jurisdiction with significant numbers of Swamp buffalo. The majority of these are in Arnhem Land. The current population estimate is at least 300,000 and growing by at least 35,000 pa. The buffalo population behind wire on stations is estimated at between 20,000 and 30,000.

The buffalo industry has a strategic importance which goes beyond the simple numbers of buffalo sold. Buffalo thrive and outperform cattle on marginal land in the humid tropics, such as in Arnhem Land, and provide employment and income in areas where there are few alternative options. In large numbers, including some parts of Arnhem Land currently, they have a detrimental effect on sensitive ecosystems. An increased sustainable harvest is required to keep numbers in balance.

The aim of the NTBIC is to build an industry of economic interest to the NT. Viability of the buffalo industry is contingent upon all participants in the supply chain making an income from the buffalo industry as well as meeting the expectations of customers and stakeholders domestically and internationally.