Australian produce has a competitive advantage in Taiwan, thanks to Australia’s reputation for safe, high-quality food and ability to offer counter-seasonal supply. The value of Australian vegetable exports to Taiwan has increased 21% in 2020–21 relative to 2019–20. This is due to growing demand for premium vegetable products and short-term domestic supply constraints.
A water shortage from late 2020 to the first half of 2021 affected Taiwan’s vegetable production. The typhoon season from mid-2021 also hit production. Lower than usual domestic supply has caused local vegetable prices to surge to new highs.
In the medium term, import growth reflects Taiwan’s:
- highly developed economy
- high GDP per capita (approx. $54,000 PPP)
- high per capita rate of expenditure on food.
Opportunities for Australian vegetable exporters
According to the USDA, Taiwan’s food and beverage sales topped US $38.8 billion in 2019. This was an increase of 1.78% as compared to 2018. Taiwan has the second-highest density of convenience stores in the world. The rapid expansion of retail outlets in recent years has given consumers greater access to food and beverage products.
Source: austrade.gov.au