No images? Click here
4 April 2023
Western Australian
Agrifood Export eNews
Ten dynamic Western Australian agrifood and beverage processing businesses will share in $6.3 million from Round Two of the WA Government's Value Add Investment Grants to grow their operations.
The State's contribution will attract more than $60 million in investment from the successful regional and metropolitan businesses to drive business growth, diversification, resilience and employment. Projects include expanding pork, poultry and smallgoods processing, converting crop waste to stock feed, enhancing supplies and range of food ingredients, increasing vegetable processing output, and upgrading wine and brewery facilities.
The funding enables WA food and beverage processors and manufacturers to overcome supply chain challenges, reduce reliance on imported and interstate processed products, and capture value adding opportunities. In Round One of this program, recipients invested $142 million in the sector, creating an estimated 600 new jobs since 2021. Independent modelling shows this investment produced an additional $692 million in revenue for recipients, generating direct benefits to the WA economy.
The program's feasibility funding stream remains open for applications, with grants of between $30,000 and $200,000 to lay the groundwork for business expansion, diversification and growth. Feasibility grants can be used for technical consultants, accounting, legal and other professional services, architects, planners, designers, valuers and property services or market analyst reports, as well as facilitating regulatory approvals and licences.
For a list of capital investment grant recipients and more information, please visit the Value Add Investment Grants website. Feasibility stream applications can be made at any time until 30 June 2024. More...
Source and Photo: WA Minister for Agriculture and Food / DPIRD [L-R: Stephen Lamond, Thompson & Redwood; Hon Jackie Jarvis MLC, Minister for Agriculture and Food; Edward Day, DPIRD Project Manager, Food & Beverage Fund; Henry Little, Thompson & Redwood; Peter Robinson, Thompson & Redwood.]
Are you an agribusiness or food and beverage manufacturer planning a capital expenditure or expansion project to grow, relocate or diversify your operations?
Individual grants of $30,000 to $200,000 (excluding GST) are available from the Department of Primary Industries and Regional Development to contribute towards feasibility studies and other de-risking activities to support an investment decision for eligible capital projects. You must have a minimum cash co-contribution of 50% of the total feasibility project cost.
If you are considering an investment in new capabilities or to expand your operations, determining the project’s feasibility and understanding whether it makes sense from an economic point of view is a worthwhile investment. This stream operates as a rolling round where applications can be made at any time until 30 June 2024, so you can apply when you’re ready.
Make sure you check the applicant and project eligibility criteria as applications that do not meet the criteria will not be considered for funding. More information about the program and how to apply are available online.
For more information about future grants, please contact an Agribusiness Food and Trade member on 08 9368 3853 or email aftprograms@dpird.wa.gov.au. More...
Source: DPIRD | Photo: iStock
The Western Australian Government's efforts to assist the WA beef industry to reduce greenhouse emissions, boost biosecurity preparedness and remain internationally competitive was highlighted last Friday at the BetterBeef23 conference in the Swan Valley.
Agriculture and Food Minister Jackie Jarvis opened the conference, hosted by the WA Lot Feeders Association, by discussing State Government work to support beef industry emissions benchmarking and the move towards a lower emissions industry.
The WA Government is also supporting industry adoption of covered feedlots by contributing to the development and implementation of national standards and guidelines to improve animal welfare, productivity and sustainability.
The lot feeding industry plays an important role in the WA beef industry – finishing cattle to meet increasingly discerning market requirements – with the capacity to feed more than 100,000 head at any one time and up to 400,000 head each year.
"WA's beef and feedlot industries are leading the way in responding to market signals and embracing change to satisfy consumer demand for sustainably produced, premium quality beef that meets the highest animal welfare standards," Minister Jarvis said. "Our Government is committed to working throughout the beef supply chain to assist this important industry to adapt and capture market opportunities. More...
Source: WA Minister for Agriculture and Food | Photo: WA Lot Feeders Association
Aircraft deliveries are on the rise according to the latest Export Supply Chain Service Snapshot from Austrade. Total global aircraft deliveries are forecasted to reach 1540 in 2023, a 24% increase from 2022.
Flights to the United States have fallen with the loss of 17 weekly flights from Melbourne and Sydney into Los Angeles, Houston, and San Francisco bringing an airfreight capacity loss of 90 to 100 tonnes. However, for the third week running, Australian outbound flights have been at or over 80% of pre-COVID levels, representing a major milestone for Australia’s aviation recovery.
Airfreight pricing has shown marginal improvements, softening by 2% in March 2023, but continues to be a sore spot for Australian exporters. However, softening demand, increasing capacity and decreasing input costs should encourage downward pressure on export freight rates.
The Export Supply Chain Service is an Austrade initiative to coordinate supply chain insights while connectivity to international markets remains volatile, capacity diminished and rates expensive. More…
Source: Austrade | Photo: Arno Senoner / Unsplash
Premier Mark McGowan will lead an historic trade mission to China, ramping up Western Australia's efforts to reconnect with key trading partners and keep WA's economy strong. The WA mission will be the first to visit China in four years – the first since the start of the pandemic – and will include engagements in Beijing to further strengthen investment and trade relations between WA and China.
Beginning on 17 April, the visit will support mutually beneficial exchanges in trade and investment across energy, resources, science and innovation, international education and aviation. This will include high-level meetings with key central government and industry leaders.
A key feature of the mission will be the Premier's 5th Annual WA-China Strategic Dialogue on 19 April which will see up to 30 key business leaders from across Australia and China gather in Beijing to discuss investment and trade opportunities. Industries represented at the dialogue will include mining and resources, renewable energy, advanced manufacturing, financial services and banking as well as primary industries.
China is WA's largest trading partner, with $143.6 billion of goods traded in 2021‑22. WA accounted for 53% of Australia's total trade in goods with China in 2021‑22. Visit Invest and Trade WA's China Market Outlook 2022-23 for more information on trade and investment opportunities. More...
Source: WA Premier | Photo: Zhang Kaiyv / Unsplash [Beijing, China]
The Australian economy is expected to grow by 1.6% in 2023 and will again outpace other advanced economies, whose growth rates will average 1.2% in 2023, according to the latest Why Australia Benchmark Report from Austrade.
The report says Australia’s openness to trade and foreign investment has been central to our long-term success. As an export-driven economy, 75% of our trade is with fast-growing economies in the Asia region. Australia has 17 free trade agreements (FTAs) currently in force, including multiple regional trade agreements in the Asia-Pacific region.
We are also a natural platform for commercial expansion into Asian markets. With an open economy, multiple FTAs and strong cultural links with Asia, we can help businesses from around the world to grow and expand in our region. More...
Source and Image: Austrade
The war in Ukraine continues to loom over the world economy, and despite recent signs of improvement, recovery over the next two years is expected to be only moderate, according to the Organisation for Economic Co-operation and Development (OECD).
The OECD March 2023 Economic Outlook Interim Report concludes that the global economic outlook appears dreary, due to high uncertainty generated by the Ukraine war.
This uncertainty generates a domino effect of trade tensions, concerns over financial vulnerabilities, concerns about housing markets and in particular, the economic health of low-income countries.
Global growth is projected to remain below trend rates in 2023 and 2024, at 2.6% and 2.9% respectively. While headline inflation has begun declining, core inflation remains elevated, and could persist longer. More...
Source: OECD | Image: Roger Hoyles / Unsplash
Further information
Agribusiness, commercial fishing and aquaculture news from the Department of Primary Industries and Regional Development (DPIRD). If you have any questions or information to share, please email export@dpird.wa.gov.au.
Subscribe to Western Australian Agrifood Export eNews.
Important disclaimer
The Chief Executive Officer of the Department of Primary Industries and Regional Development and the State of Western Australia accept no liability whatsoever by reason of negligence or otherwise arising from the use or release of this information or any part of it.
Copyright © State of Western Australia (Department of Primary Industries and Regional Development), 2023.
