Australia’s Food Exports Near $100 Billion Target

Australia’s push to reach $100 billion in annual food exports is gaining momentum, driven by free trade agreements and shifting global demand. Last financial year, the country exported $75.6 billion in agricultural, fishery and forestry products, down slightly from the previous high but still more than double the figures from 12 years ago. With growth accelerating in markets like India, South America and Southeast Asia, Australia looks on track to hit its ambitious target.

The rise in exports comes as trade deals open new opportunities. Free trade agreements have reduced tariffs and expanded access to key markets, including the UAE, the UK and India. In 2024, 95% of red meat exports went to countries with existing deals, helping the industry achieve record-breaking shipment volumes. Recent agreements have also boosted dairy, seafood and grain exports, diversifying Australia's global trade portfolio.

Beef exports, a cornerstone of the agricultural sector, rose 24% last year, with red meat shipments now reaching 104 countries. Exporters are also benefitting from increased demand for Australian produce, with skim milk powder exports to Indonesia up 70% in just one year. Meanwhile, the reopening of the Chinese market to Australian wine has brought in an additional $100 million, helping the wine industry recover from previous trade disruptions.

Looking ahead, the federal government projects agricultural production will rise to $88.4 billion in 2024-25, making it the second-highest total on record. The food manufacturing sector is also growing, with 1,400 more food factories operating than a decade ago. With long-term investment in high-value foods like avocados, mangoes and dairy, Australia’s agricultural industry appears well-positioned for continued expansion.

Reducing food waste is another key focus. More than 7.6 million tonnes of food go to waste each year, costing the economy $36.6 billion. The federal government has launched a national strategy to cut this in half by 2030, linking efforts in sustainability with Australia's broader ambitions in food production and export growth.

Sources: The Australian, CSU, Department of Agriculture