At the last count, Australia has around 140,000 farmers and these farmers produce enough food to feed 80 million people. They satisfy more than 90% of local demand and export two thirds of their product to world markets with the value expected to pip $60 million in this financial year.
The Australian Bureau of Agricultural and Resource Economics and Sciences reports the major exports are grains (30%) and meat (24%). Wool, dairy and horticulture also feature but in single figures.
The Asian market is the most important, with a rising middle class increasing demand to 60%. China is the largest of those consumers. Sales to Korea (11%), Japan (9.4%) and Indonesia (7.3%) continue to grow.
The United States and Canada are also key markets for Australia exports with the European Union taking a large percentage of meat, grain, sugar and wine too.
A number of Free Trade Agreements brokered with Japan, China and South Korea, as well as the Trans-Pacific Partnership are also likely to benefit primary producers of meat, dairy, grain, fruit and pulses. Tariff reductions and better access to the Asian market will add to the coffers of Australian farmers provided they are in a position to take advantage of increased demand for high-quality produce.
Source: sunshinecoastdaily.com.au
