Growing Demand for Australian Agricultural Export in Asia

Running Head: ECONOMIC ASSIGNMENT
Economic Assignment
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1ECONOMIC ASSIGNMENT
Table of Contents
Introduction......................................................................................................................................2
Article summary in brief..................................................................................................................2
Analysis of the article......................................................................................................................3
Recommendation.............................................................................................................................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

2ECONOMIC ASSIGNMENT
Introduction
Australian agriculture sector is known for its significant contribution in in domestic and
external sector. In addition to feeding its own population, Australia holds an important position
in terms of agricultural export in the world market. The primary exported products of Australia
include cereal grains, goat meat, beef, lamb and others (agriculture.gov.au 2018). Fisheries and
forestry export are estimated to have a value of $1.4 billion and $3 billion respectively. With a
high growth rate in the agricultural sector Australia now able to meet growing food demand of
several developed and developing nation.
Article summary in brief
In recent years, Australia’s fruit and vegetable export to the Asian market has
documented a considerable growth. The fruit and vegetable export to the growing market of
Japan, China, Hong Kong and India has become center of attraction for local growers. Mark
Bennett, the agribusiness head of Australia said in the report that thee highest paying market of
Asia along with extended market of South Korea and Middle East has marked boom for
Australian growers.
The growing demand from is resulted from the rise in middle income class and their
increased demand for protein and meat. This impact on fresh fruit and vegetable demand bring
an opportunity to gain from exporting their product to this growing market. Globally, the per
capita consumption of vegetables and fruits have accounted a respective growth of 3.6 percent
and 14.6 in every year (weeklytimesnow.com.au 2018). The producers of nut and fresh fruits in
Australia have already benefitted from growing Asian demand. The vegetables growers are
however cannot serve demand from Asia because of a disparity in preferences. The two most