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World taste for Aussie food continuing to grow: report
14 Aug 2003
A new report shows that the world's taste for Australian foods is growing faster than ever. In 2001-2002, Australian food exports rose nine per cent to $26.6 billion, while the value of food imports increased to $5.3 billion, up five per cent.
Total food industry sales were worth $35 billion at the farm gate and around $75 billion at the retail level.
While the US and Japan remain the top importers of Australian produce, their prominence is falling as other countries increase their imports. Exports to the Philippines almost doubled over 1999-2001, with exports to Thailand, China, Indonesia and Malaysia growing strongly.
The type of food exports is also changing. While the main exports continue to be meat, dairy products and grains, there has been continuing diversification, with wine and dairy increasing, as well as sales of oilseeds, fruit, fish and nuts.
Agriculture Minister Warren Truss said the figures show the importance of the food sector to Australia's economy. But he warned that the report did not show the impact of the drought over 2002-2003, which was likely to have cut food exports.
Tradingroom.com.au, 13/8/03.
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