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12 September 2023
Western Australian agrifood export eNews
The Western Australian Premier, the Hon Roger Cook MLA, has undertaken a historic trade mission to Indonesia - his first mission as Premier. The mission was comprised of more than 130 Western Australian business and government delegates, including the Minister for Agriculture and Food and Small Business, the Hon Jackie Jarvis MLC.
The Indonesia Connect Roadshow provided a platform to promote the state as a recognised and trusted partner. It was also an opportunity for Western Australian businesses to engage in trade, investment and cultural exchange. The delegation travelled to Jakarta, Surabaya and Denpasar to participate in a range of activities including site visits, roundtable discussions, business-to-business matching and cultural exchange.
Throughout the week-long mission, Minister Jarvis visited important trade partners for the state's primary industry sectors, such as Bogasari Flour Mills and Ranch Market, and hosted a red meat roundtable discussion with Meat & Livestock Australia. More...
Source and Image: WA Government
The OECD-FAO Agricultural Outlook 2023-2032 provides an assessment of the
10 year prospects for agricultural commodity and fish markets at national, regional, and global levels in a context of continued economic risks, uncertainty, and high energy prices. The report is a collaborative effort between the Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) of the United Nations.
The Agricultural Outlook highlights that global crop production growth will mainly be driven by increased productivity rather than increased land use. Therefore, investments in raising yields and improved farm management are essential. Improvements in productivity will also be required to drive growth in livestock and fish production through more efficient herd management and higher feed intensity.
Part of East Asia's growing meat import requirement will likely be met by rising exports from Oceania, and in response, Australia's bovine exports are expected to grow by 19% to reach 1.8 Mt by 2032. Similarly, the rising middle-class consumer in the Middle East will drive higher import demand for meat - Australia is expected to increase lamb exports (of higher value) as a result.
Over the next decade, Australia and Turkey are expected to record the most significant increase in world meat exports globally, benefitting from a favourable exchange rate and ample feed grain availability. More...
Source and Image: OECD-FAO
Australian exporters have much to gain from a renewed commitment to globalisation and free trade, following the turn to domestic reliance and protectionism during the pandemic.
Speaking at the annual Jackson Hole Economic Policy Symposium, the Director-General of the World Trade Organisation said that predictable trade is a source of disinflationary pressure, reduced volatility, and increased economic resilience whereas fragmentation of trade into rival blocs “would be very costly.” The argument to support 're-globalisation' was put forth, with warnings that any delays will result in greater price volatility, weaker growth and a slower low-carbon transition.
Despite the current tensions and scepticism around open multilateral trade, overall trade costs for agricultural products, manufactured goods, and services have actually fallen by 12% over the past 20 years. Trade has acted as an important shock absorber, helping to drive economic recovery and mitigate the effects of the pandemic and the war in Ukraine.
Last year, global goods and services trade was 7% higher in real terms than its pre-pandemic peak. Without trade, the economic impact of these events would have been longer-lasting and more severe. More...
Source: World Trade Organisation | Photo: Chuttersnap / Unsplash
A new World Bank report estimates that 10 new and emerging seaweed markets have a potential growth of up to $11.8 billion by 2030. In the short-term, the most promising markets include biostimulants, animal feed, pet foods and methane-reducing additives. Medium-to-long term opportunities include nutritional supplements, alternative proteins, bioplastics, fabrics, pharmaceuticals and construction materials.
The Global Seaweed New and Emerging Markets Report 2023 analyses the commercial opportunities for new high-growth seaweed market applications. This monetary value comes with seaweed’s ability to sink carbon, sustain marine biodiversity, employ women, and unlock value chains. There are huge growth opportunities in many regions, with the current market dominated by a handful of Asian countries which produce 98% of farmed seaweed.
The Australian seaweed industry is comparatively small, but it is growing sector with notable levels of domestic research and development. With an extensive pristine coastline and clean oceans, our unique location makes Western Australia attractive for sustainable aquaculture investment and production. As the seaweed industry develops, there is an opportunity for Western Australian farmers to benefit from new market applications, and strong domestic and foreign demand. More...
Source: World Bank | Photo: https://commons.wikimedia.org/wiki/File:Aquakulturen_Rotalgen_Sansibar_3.jpg
The Future Drought Fund (Department of Agriculture, Fisheries and Forestry) has invested in My Climate View to help farmers and farm advisors better plan for future climate variability.
My Climate View is a free digital tool which provides farmers and their advisors with past climate data, seasonal forecasts and future climate projections at a
5 km² resolution across Australia.
Climate information can also be tailored specifically to 20 different agricultural commodities, with more commodities and data insights to be added in 2024. Current commodities available are: almonds, apples, avocados, bananas, barley, beef, canola, cherries, chickpeas, cotton, dairy, lupins, mangoes, oranges, potatoes, sheep, sorghum, sugarcane, wheat and wine grapes. More...
Source and Image: Department of Agriculture, Fisheries and Forestry
CSIRO has partnered with Goanna Ag to develop and implement a world first irrigation technology, WaterWise, with the prospect of saving the Australian agriculture industry $1 billion by 2030.
The technology uses machine learning, a form of artificial intelligence, to predict future crop water needs in real time. WaterWise technology can achieve significant water savings for high value water-intensive crops - early field trials found that the system saved tomato growers 35% of water used in one season.
The WaterWise technology has also reduced carbon dioxide emissions from irrigation by reducing the inefficient use of irrigation pumps, which reduces energy use and carbon dioxide emissions. It is estimated that WaterWise could save the equivalent in carbon dioxide emissions as taking 336,000 cars off the road for a year or turning off 186,000 households’ energy for a year. More...
Source: CSIRO | Photo: Goanna Ag
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.
