Signed in as:
filler@godaddy.com
Signed in as:
filler@godaddy.com
ASEAN countries are looking to international markets for a variety of goods that are growing in demand amongst local consumers.
Agricultural products from Australia and other countries are among these high demand goods. Some produce is being delivered to the consumers’ table. Other goods are entering a longer supply chain, to be used in the manufacture of other products.
ASEAN’s food and fibre processing industries are growing. ASEAN countries are an increasingly important part of the global fibre processing supply chain. This has increased demand for inputs, such as cotton.
In Vietnam, spinning mills import raw cotton and transform it into cotton yarn. The yarn is used in the Vietnamese textile and apparel industry or re-exported abroad, mainly to China and South Korea.
In the ASEAN region, Australian barley is being used for a variety of ways, including in food processing, beer production, and as specialty animal feed.
Since 2018-19, exports of Australian barley to ASEAN have increased by 214%. That’s an increase of $258.8m.
Demand for alcohol and meat will continue to rise in the region, creating more opportunities for malting barley and animal feed.
An increasingly wealthy and urbanised middle class in ASEAN countries are consuming a wider variety of higher value agricultural products, including meat, seafood and wine.
Australian seafood and wine exports to ASEAN have increased by $490 million since 2018-19. That represents an increase of 80%.
There is no denying it, the ASEAN market has many opportunities for Australian agriculture exporters that are looking to diversify their markets. See https://www.agriculture.gov.au/about/news/growing-demand-south-east-asia
In 2021-22, Australia exported a record $1.57b of cotton to ASEAN. The 2021-22 record will be easily surpassed this year as stored bales from previous seasons continue to be exported.
Copyright © 2024 Food Bowl Forum - All Rights Reserved.
Food Bowl Forum