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19 March 2024
Western Australian agrifood export eNews
New market opportunities for Western Australian food and beverage exporters in Asia and beyond were explored last week at one of the region’s biggest trade shows, FOODEX Japan 2024.
The Department of Primary Industries and Regional Development (DPIRD), in collaboration with the State Government’s Invest and Trade WA Japan office, supported 17 WA businesses at the event in Tokyo. The WA exhibitors from across the State include honey, olive oil, packaged foods, seafood, dairy and alcoholic beverages.
During the week DPIRD officers facilitated in-market briefings for WA exhibitors, business matching with potential customers, a market insights tour, while also seeking export leads.
Japan is WA’s second biggest export destination, worth more than $1.6 billion in 2022-23. DPIRD Agribusiness, Food and Trade Executive Director Liam O’Connell said it was a good opportunity for local businesses to attend international trade exhibitions to help expand WA’s agrifood and beverage sector.
For more information about DPIRD’s agrifood and trade services visit the department’s website or email export@dpird.wa.gov.au.
Source and Photo: DPIRD
Western Australia's next generation of leading agriculture and food scientists are being encouraged to apply for a new postgraduate scholarship program.
The program is an initiative of the State Government-backed WA Agricultural Research Collaboration (WAARC) and will strengthen research, development and extension capabilities to help future-proof the State's agriculture and food sector.
WAARC – with the support of its three university members Curtin University, Murdoch University and The University of Western Australia – has opened the first round of the program, offering scholarships for up to 12 eligible PhD students.
Scholarship recipients will be provided an annual stipend top-up of $24,000, to support their living expenses while completing their PhDs. Successful applicants will need to align their research projects with one or more of WAARC's six research, development, extension and adoption programs.
Applications are now open with this first round of the program closing on 16 April 2024.
Source: WA Minister for Agriculture and Food | Image: applyzones
Fisheries Minister Don Punch congratulated Department of Primary Industries and Regional Development Director General Heather Brayford on receiving a Lifetime Achievement Award for her contribution to sustainable fisheries management in Western Australia.
The award was presented to Ms Brayford by the Marine Stewardship Council (MSC) at the Sustainable Seafood Awards held on 15 March. Ms Brayford has more than 35 years of experience in fisheries and aquaculture policy, regulation, industry development, biosecurity and natural resource management. She played a key role in the roll-out of the initial WA MSC program for the State's fisheries which commenced in 2012, working in close partnership with the MSC and industry.
The MSC provides independent, third party, sustainable certification of WA fisheries and gives consumers confidence in the sustainability of fisheries and that their seafood purchases are sustainably sourced.
There are a range of fisheries which have received MSC certification across the State including western rock lobster, Exmouth Gulf and Shark Bay prawns, blue swimmer crab, sea mullet, deep sea crab, pearl oyster, abalone, western rock octopus, sea cucumber and saucer scallops.
Source: Minister for Fisheries | Photo: WA Gov
More than halfway into the current dairy season, Australian milk production is firing on all cylinders, with widespread growth in milk supply across all dairying regions due to favourable seasonal conditions and good farmgate margins.
In its recently-released first quarter Global Dairy Quarterly report, agribusiness banking specialist Rabobank said Australian milk production reached 5.35 billion litres from the period July 2023 to January 2024, 2.5% year-on-year higher. The bank said summer rainfall had far exceeded expectations across much of Australia's east coast, providing a good platform for livestock producers.
Milk production is significantly up (2.5%) due to favourable weather and strong farmgate
margins. Rabobank forecasts further growth (3-4%) in the coming year.
High milk prices and affordable feed are expected to benefit dairy farmers in 2024.
However, some issues exist:
Rabobank said that Australian dairy exports have declined (8.5%) compared to the previous year. Global dairy prices are rising due to limited supply, but demand remains sluggish. Geopolitical conflicts and potential supply disruptions can impact global dairy demand.
Source: Rabobank | Photo: DPIRD
The Australian Government has announced the establishment of a A$2 billion investment financing facility to boost investment in Southeast Asia as part of a suite of economic initiatives announced at the recent ASEAN-Australia Special Summit in Melbourne.
Australia's two-way investment with ASEAN was worth A$307 billion in 2022. Two-way trade with ASEAN was valued at A$178 billion in 2022, accounting for 15% of Australia’s trade, which is greater than our trade with Japan or the United States.
The A$2 billion Southeast Asia Investment Financing Facility, managed by Export Finance Australia, Australia’s export credit agency, will provide loans, guarantees, equity and insurance for projects that would boost Australian trade and investment in Southeast Asia, particularly in support of the region’s clean energy transition and infrastructure development.
Source: Prime Minister of Australia | Photo: Hanson Lu / Unsplash [Port of Singapore]
Global merchandise trade could start to show some modest gains in the first quarter of 2024 after a weak performance in 2023 according to the very latest World Trade Organisation (WTO) Goods Trade Barometer issued this month. However, geopolitical tensions continue to pose a downward risk to the near-term outlook.
The Barometer acts as a real-time indicator, reflecting current trends and potential future directions. Values above 100 signal growth exceeding historical trends, while values below 100 suggest a potential decline.
Global merchandise trade volume dropped in the third quarter of 2023 compared to both the previous quarter (-0.4%) and the same period in 2022 (-2.5%). This decline is attributed to strong growth earlier in 2022, leading to a flat performance overall in 2023 (growth of only 3.2% over two years). This outcome falls short of the WTO's October 2023 forecast, which predicted 0.8% trade growth for 2023.
Export orders (101.7) and air freight (102.3) show slight positive signs.
Container shipping (98.6) and raw materials trade (99.1) remain under the baseline.
Source and Graphic: WTO
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), 2024.
