March 8, 2024

 

Australia to look into role of country's agriculture in supporting food security in Southeast Asia

 

 

An inquiry has been launched to look into the role of Australian agriculture in the Southeast Asian market, Grain Central reported.

 

This effort, launched by the Australia Parliament's Agriculture Committee, will study how the country's agriculture can support Southeast Asia's food security, improving market access and trade systems, and building capability in the region to improve agricultural sustainability, technology and innovation.

 

Additionally, the committee wants to identify new mechanisms and emerging opportunities and challenges for Australian agriculture to tackle key priorities in Southeast Asia.

 

"Agriculture plays a critical role in sustaining the region's economic growth," said committee chair Meryl Swanson, noting that Australia seeks increased engagement with Southeast Asia. "With its continuing population growth, rapid urbanisation, rising incomes and increasing food security requirements, Southeast Asia is one of the fastest growing markets for Australian agricultural exports."

 

Swanson highlighted that Australia's economic strategy revealed agriculture and food as among "the ten key sectors offering the most potential for greater commercial activity between Australia and Southeast Asia".

 

In 2022, the value of Australian agricultural exports to ASEAN hit a record at $17.5 billion, and wheat — at a value of $6.3 billion — was the top agriculture export product to the region in the year.

 

Australia's inquiry will cover its relationship with Brunei, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, Timor-Leste, and Vietnam.

 

The recently released report, "Invested: Australia's Southeast Asia Economic Strategy to 2040", stated that "high demand for Australian agriculture and food production should continue out to 2040".

 

"Australia's favourable combination of complementary agriculture seasons and climates, production capabilities, expertise and geographic proximity makes it an ideal partner for Southeast Asia," the report added.

 

Australia's special envoy to Southeast Asia Nicholas Moore noted many countries which could provide more trade opportunities for the country's grains industry.

 

The Philippines' $71.9 billion agrifood market, for instance, is where Australia could obtain a bigger market share; Australia currently hold 6% of that market. Feed wheat, barley and milling wheat are in high demand in the Philippines, and the country has a hungrier appetite for Australian premium beef, according to Moore.

  

Malaysia, which brings in two-thirds of its wheat from Australia, could benefit from future cooperation including in the areas of food trade, agribusiness and food control systems.

 

Australia's strategy also highlighted that the country's agriculture could tap on the expected fourfold increase in Indonesia's food consumption from 2009 to 2050.

 

Submissions to the inquiry will be open until May 31.

 

- Grain Central