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31 January 2023
Western Australian
Agrifood Export eNews
Do you want innovative solutions to better manage your food and beverage manufacturing business?
Come to Turning the Dial and network with industry professionals to combat food waste, consider sustainable packaging and more.
This Department of Primary Industries and Regional Development event takes place Monday 27 February and Tuesday 28 February from 8.30 am to 5pm AWST each day at the Perth Convention and Exhibition Centre, Riverview Room 4, 21 Mounts Bay Road, Perth. Register now.
Source: DPIRD | Photo: iStock
The latest Supply Chain Snapshot (ESCS) from Austrade is now available online. In this first edition of the new year, ESCS dives into the wild waters of sea freight.
Global schedule reliability improved in November, rising 4.7% compared with October 2022. At 56%, reliability is the closest to pre-COVID levels in almost three
years.
Australian ports are still facing delays of about two days due to 'bunching' (vessels arriving within a short time of each other) caused by off-schedule arrivals. Vessel bunching leads to reduced port efficiency and adds pressure to landside operations.
Don't forget to sign up for the next ESCS Industry Briefing for a comprehensive update on what exporters can expect in 2023. It takes place on 6 February at 12 pm AWST.
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: DPIRD [Port of Fremantle]
With the largest ever Western Australian trade delegation visiting India last year, and the passage of implementing Australian legislation for the Australia-India Comprehensive Economic Cooperation Agreement, stronger trade ties – including in the seafood sector – are fast developing between WA and India.
The Chamber of Commerce and Industry of WA (CCIWA) Sustainable Commercial Fisheries Collaboration in India for Food Security project is also helping forge stronger links between the WA and India seafood sectors.
India – the fifth largest global economy with a 7% growth forecast for 2022 – is ranked the fourth largest capture fisheries producer in the world. The India International Seafood Show (IISS), which takes place in Kolkata from 15 to 17 February 2023, is one of the largest seafood fairs in Asia, a biennial event for exporters and importers of Indian marine products for various stakeholders of this sector such as producers, processors, processing machinery manufacturers, linkage sectors, and technical experts. More...
Source: IISS / FAO / CCIWA / DFAT | Image: IISS
It was a stunning – and tasty – night beneath the stars as more than 200 guests gathered for the 10th annual Taste of Australia event in Abu Dhabi recently.
Organised by the Australian Business Group Abu Dhabi, the event brought together business community members from Abu Dhabi and Dubai for an evening of fine Australian food and wine.
Guests gathered on the garden lawn of the Beach Rotana Hotel while feasting on western rock lobster from the Geraldton Fishermen’s Co-operative, and wild-caught octopus from the Fremantle Octopus Group.
They also had the chance to sample Margaret River and Swan Valley wines from Leeuwin Estate and Sandalford Wines.
Present at the event were Nashid Chowdhury, the Western Australia Investment and Trade Commissioner for India-Gulf, representatives of the Dubai Office of the Government of Western Australia, and guest of honour, Her Excellency Heidi Venamore, the Ambassador of Australia to the United Arab Emirates. More...
Source and Photo: Invest and Trade WA
As the world continues to grapple with the food crisis, the World Bank says we need to remember that this problem didn’t emerge overnight. The war in Ukraine accelerated and triggered more attention to the crisis, but food prices and global hunger were already on the rise even before the war.
Climate change, among others, has been a major driver of these worsening trends. Ironically, although global food production has nearly quadrupled between 1961 to 2020 and increased by 50% between 2000 to 2020, more people than ever before are going hungry.
Resolving the situation we face today requires a sharper focus than ever on transforming our food systems to make them more sustainable while feeding a growing global population. A well running food system will help build human capital, lift communities out of poverty, and improve climate resilience.
The World Bank says the business-as-usual path is unacceptable. We need a systemic shift in our approach to agriculture and food systems to transform how we produce, transport, and consume food. More...
Source: World Bank | Photo: Henry Perks / Unsplash
The 2021 surge in global shipping costs was a canary in the coal mine for the persistent rise in inflation, according to the International Monetary Fund (IMF).
As recently as the second half of 2021, the United States Federal Reserve (Fed) considered that the surge in consumer price inflation would dissipate, with price increases returning to the Fed's 2% target in 2022.
The Fed was not alone in misreading the implications of the data already available in 2021. The IMF, whose mandate is to take an independent view of developments and policies in member countries, described the inflationary surge in the same terms as the Fed, pointing to transitory causes and taking comfort in the anchoring of inflation expectations. Like the Fed, the IMF did not mention in its updates the possibility of economic overheating and inflation persistence.
Fast-forward to the northern spring of 2022, the IMF’s World Economic Outlook revealed that the institution’s inflation projections were off by a factor of more than 3 for advanced economies and 2 for all other countries. These facts show that the inflation surprise was global.
So, was there a smoking gun? A recent study has highlighted a key driver of global inflation that was very evident already in 2021: the rapid increase in global shipping costs. By October 2021, indicators of the cost of shipping containers by maritime freight had increased by over 600% from their pre-pandemic levels, while the cost of shipping bulk commodities by sea had more than tripled. More...
Source: IMF | Photo: Venti Views / 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.
