Australian Vegetable Export in Asian Market: Economic Analysis

Running Head: ECONOMIC ASSIGNMENT
Economic Assignment
Name of the Student
Name of the University
Author note

1ECONOMIC ASSIGNMENT
Table of Contents
Introduction................................................................................................................................2
Essence of the story....................................................................................................................2
Economic Analysis.....................................................................................................................3
Demand Analysis...................................................................................................................3
Australian Quarantine Protocol..............................................................................................4
Recommendation........................................................................................................................5
Conclusion..................................................................................................................................5
References..................................................................................................................................6

2ECONOMIC ASSIGNMENT
Introduction
Australia is identified as a major producer and exporter of agricultural product. The
national agricultural sector has a growth rate of 23 percent in the financial year of 2016-17.
The value of country’s farm export has recorded a value of $48 billion. Within this, fisheries
export estimated to be $1.4 billion and forestry export valued around $3 billion
(aginnovators.org.au 2018). The top export of Australian agriculture include livestock
product such as lamb, beef, offal, goat meat and others and cereal grains. The major export
destinations are China, Japan, European Union, United States, India and Indonesia
(ruralbank.com.au 2018). The paper discusses recent growth of Australian vegetable export in
the Asian market in reference to published news article.
Essence of the story
Australian fruit export has grown rapidly in China’s market by almost five times in
the last five years. New opportunity of Australian vegetable export has opened into Asian
market. The growing economies of Asia such as China, Hong Kong, India and Japan have
triggered demand for fruit and vegetables of Australia. The Asian market along with export
market of Middle East and South Korea are the highly paying market for vegetables and fresh
fruits produced by local growers (weeklytimesnow.com.au 2018).
An increased demand for protein and meat has been generated from middle class
group of Asia. The stimulation in demand for vegetables and fresh fruits have brought
significant opportunity to Australian growers. When compared to early 1990s, per capita
consumption of vegetables has increased by 3.6 percent while that of consumption for food
has increased by 12.4 percent every year. The milk and meat consumption has increased by
0.8 percent and 1.5 percent respectively (agriculture.gov.au 2018). Producers of fresh fruit
and nut have benefitted from increased demand from Asian market. The vegetables growers