The Australian government has invested $72.7 million through its AgriBusiness Expansion Initiative to help Australia’s agricultural, forestry and fisheries industries diversify and expand export markets.
Australian livestock production is forecast to be valued at $22.9 billion in 2020-21.
Australian meat and livestock exports are forecast to be worth $13.1 billion in 2020-21.
Meat and Livestock Australia has been awarded $1.52 million to assist with exploring new export channels in overseas markets.
The funding will help the industry to focus their exports efforts in new and emerging markets including Thailand, Vietnam and Saudi Arabia.
Meat and Livestock Australia (MLA) will use a $1.52 million Australian Government investment to explore market diversification opportunities within untapped segments of three export markets.
Minister for Agriculture and Northern Australia David Littleproud said the grant would help increase market expansion and diversification for Australian exporters.
“Through this grant funding, MLA will explore new export channels in Saudi Arabia, Thailand and Vietnam,” Minister Littleproud said.
“New business development specialists will work on improving trade flows for Australian beef, sheep meat and goatmeat to build new business opportunities in in trade, retail and foodservice sectors.
“By stationing business development specialists in these target markets, MLA will be well positioned to work with Australia’s government agencies including our Agriculture Counsellors.
“As we’ve learnt from COVID-19, access to a diverse range of markets critical to our exporters.
“This grant will help to improve Australia’s product spread, we are future-proofing our industries against significant market shocks.”
General Manager of International Markets MLA, Andrew Cox, said the grants were an opportunity to expand exports into markets with strong development opportunities.
“Australia has recently negotiated improved access to these markets, and it’s important to build stronger relationships with our important trading partners,” Mr Cox said.
“We’re grateful for the opportunity to smooth the path ahead for the Australian red meat industry.”
Source: Minister for Agriculture, Water and Environment