“The federal government released its National Food Plan in May with one of its goals being to increase Australia’s agriculture and food-related exports by 45per cent by 2025.
A report, prepared by consultants Port Jackson Partners for ANZ Bank, and released last October called: Greener Pastures: the Global Soft Commodity Opportunity for Australia and New Zealand, stated Australia could capture up to $1.7trillion in additional revenue from agriculture exports between now and 2050 if it seized the opportunity of the Asia food boom.
ANZ head of Agribusiness, Mark Bennett, says the population and income growth in Asia is astounding and so the opportunity for Australian agriculture exporting to Asia is enormous.”
Bennett says setting goals and making investment is a crucial part of capturing the food opportunity in Asia.
“Australia’s agricultural industry is being presented with an opportunity it hasn’t seen for some time,” he says. “We are witnessing a more rapid change in our end export destinations for packaged and fresh food than we could have imagined a decade ago. China’s demand for food imports from Australia has generated significant opportunities for exporters; our target consumers in China have higher incomes, and spend up to five times more on products such as dairy, seafood and meat compared to the lowest income brackets.”
Agriculture has become a “Must Have” Asset around the globe.