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24 January 2023
Western Australian
Agrifood Export eNews
A Western Australian abalone business is garnering global attention for its sustainably grown Greenlip abalone. Rare Foods Australia (RFA) is a seasoned exporter with customers across the world. And business is about to boom.
Since achieving Marine Stewardship Council (MSC) certification in June 2022, RFA has seen a rise in enquiries from overseas buyers. The timing couldn’t be better. RFA already supplies over 20% of the world’s wild-caught Greenlip abalone but has ambitious global expansion plans.
The company is working with Austrade to find new master distributors in its key export regions. Austrade is also advising RFA on new markets such as Vietnam, Canada, India and the Middle East. More...
Source: Austrade | Photo: RFA
How today’s agricultural sector produces food and fibre is different to the past, and more change should be expected in the future, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
A new two-part Insights series from ABARES discusses the recent growth of Australian agriculture and how changes in the market and policy landscape over the last 50 years have shaped the sector, what factors matter now, and what trends will matter in the near-future. More...
Source: ABARES | Photo: DPIRD
Australian food and agribusiness exporters can now search for insights on the best places to sell more than 6,300 products into more than 120 markets, thanks to Austrade's expansion of the export.business.gov.au website.
The site now includes data-driven guidance on how to find strong markets for your specific product based on Austrade’s bespoke trade information model.
You will also be able to:
• Check the rules, regulations and tariffs in your target export market.
• Take a short quiz to assess your export capability, capacity and motivation.
• Develop an export plan.
• Use a guide to exporting to set yourself up for success.
The Austrade export services website also includes export news stories that could be relevant for your business. More...
Source and Photo: Austrade
The International Monetary Fund (IMF) expects Gross Domestic Product growth for Gulf countries to more than double, reaching 6.5% in 2022.
This growth estimate for the Gulf Cooperation Council (GCC) countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates – was presented in a recent IMF Policy Paper.
Surging commodity prices have limited the spillovers from the war in Ukraine and the impact from tighter global financial conditions, and have allowed for a more positive outlook for GCC economies.
The report says while GCC countries are considered more food-secure than many other countries, the region has a relatively high reliance on imported food.
Only 2% of GCC food imports are from Russia and Ukraine, and the region has stockpiled food items and begun to tap new markets to ensure food security. More...
Source: IMF | Photo: jeshoots.com / Unsplash [Dubai, United Arab Emirates]
Amid extreme market volatility and record-high prices, fertiliser consumption suffered in 2022. According to a recent Rabobank report, a recovery in consumption is possible in some regions in 2023, with fertiliser prices lowering and commodity prices at historically-high levels.
When geopolitics meets fertiliser markets, things get bumpy for fertilisers, the report says. And that is exactly what has happened over the past two years, with tensions peaking after Russia’s invasion of Ukraine. But for 2023, we can expect things to settle somewhat, according to Rabobank.
The report says Rabobank’s Fertiliser Affordability Index – which tracks the relative price of a basket agricultural commodities in comparison with a basket of fertilisers – shows current price trends and volatility are in line with an historic pattern of peaking cycles.
If history is to be believed, the report says, especially trends observed following the 2008 Global Financial Crisis, then global fertiliser prices should come down in the coming months. More...
Source: Rabobank | Photo: DPIRD
Digital entrepreneurship helped keep economies afloat during COVID-19 and it can become a major engine of growth in the post-pandemic world, according to the Asian Development Bank (ADB).
Singapore has the world’s best digital environment and support system for entrepreneurs, according to the Global Index of Digital Entrepreneurship Systems, released by ADB as part of the Asian Development Outlook 2022 Update. The United States ranks second, Sweden takes third place, and Australia is 14th among 113 economies on the list.
The ADB says other economies can learn from Singapore's example to boost their economic growth, innovation, and inclusive development. More...
Source: ADB | Photo: Amelia Bartlett / 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
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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.
