Trade

Rising global tensions and the COVID pandemic have created the perfect storm for Australian exporters. Now is the time to protect our business from supply chain interruptions and ensure the resilience of our economy. Australian businesses cannot prevent these external economic shocks, but they can manage risk by diversifying their economic relationships.

Thousands of new jobs and significant infrastructure builds in regional NSW will be delivered through the 2021-22 NSW Budget, supporting the recovery and future prosperity of regional communities following drought, bushfires, floods, the COVID-19 pandemic and more recently the mice plague.

The first shipment of iron ore from processed waste materials at Frances Creek Mine are being celebrated this week as a huge sign of strength and confidence in the Territory’s mineral industry. The Territory Labor Government approved the Mining Management Plan for the Frances Creek Mine in March 2020 enabling the processing of existing ore stockpiles at the mine. NT Bullion – the operator of the mine – has been using innovative x-ray technology from German based Steinert to screen waste rock stockpiles at the site to produce export quality iron ore.

For the first time ever, Costa, Australia’s leading fresh produce grower, have sent a shipment of their premium Lovocados to Singapore by sea freight. The order of 3200 trays left Brisbane in May and arrived in Singapore in June, and there have since been twelve more containers shipped to locations across Asia including Malaysia, Hong Kong, and Indonesia.

[ALP] Labor welcomes the in-principle deal announced last night to progress a free-trade agreement between Australia and the United Kingdom. Trade is an important aspect of the close relationship between Australia and the UK, and we will wait to see the details of this proposed agreement.

[Government statement] A new free trade agreement with the UK will deliver more Australian jobs and business opportunities for exporters, bringing both countries closer together in a changing strategic environment. Prime Ministers Scott Morrison and Boris Johnson have agreed on the broad outlines of an Australia-UK Free Trade Agreement (FTA).

[Meat & Livestock Australia] The Australian red meat industry today welcomed the announcement in London by Prime Ministers Morrison and Johnson of agreement in-principle regarding the parameters of the Australia-United Kingdom Free Trade Agreement. The agreement will see Australian beef and sheepmeat access to the UK liberalised over a 10 year transition period.

[NSW Farmers] Farmers in NSW will benefit from the ‘in-principle’ trade deal between Australia and one of its oldest trading partners. The proposed deal with the United Kingdom includes the introduction of Ag Visa for UK backpackers and tariff and quota free access for a range of produce grown in NSW.

[National Farmers' Federation] Australian farmers are applauding the ‘in-principle’ trade deal between Australia and the United Kingdom announced by prime ministers Scott Morrison and Boris Johnson in London overnight. The proposed deal is the first trade agreement reached by the United Kingdom following its separation from the European Union last year, and will guarantee tariff-free, quota-free access to the UK market for all agricultural products, after phase in periods of up to 15 years.

Australian farmgate production is on track for a record-breaking $66.3 billion year. ABARES’ June quarter 2021 Agriculture Commodities report shows how the sector has navigated the uncertainties and challenges posed by COVID-19 and changes in the international trade landscape.

Australia's alpaca producers are well positioned to develop new export markets following the opening of trade in alpacas with Chile ... "Health certification requirements are the foundation for trade in animals and this agreement means we can continue to build on trade opportunities as we work to revitalise our primary industries."

Global dairy prices continue to trade at elevated levels, despite being “stuck in neutral” for the past three months, as the market slowly returns to normal from the pandemic-led channel distortion, according to the latest Rabobank Global Dairy Quarterly report.

DNA testing Australian honey can reveal where it was produced and its main floral sources, according to research published today by Australia’s national science agency, CSIRO, and partners at the University of Melbourne and Curtin University. The $100 million Australian honey industry exports 4,500 tonnes of honey every year, and could benefit from the findings, which could be used for a honey certification program to confirm the floral composition and provenance of commercial honey.

A combination of global and localised factors is creating a “very tight” global beef cattle market – with strong demand and record high prices in many regions throughout the world – and this is coinciding with a fundamental shift in international market dynamics, Rabobank says in a newly-released report.

Australia is chairing the 25th anniversary meeting of the Codex Committee on Food Import and Export Inspection and Certification Systems (CCFICS), which started yesterday. “This meeting is important for Australia, in particular our agricultural sector, to help shape the science-based international standards underpinning food import and export,” says, Nicola Hinder, DAWE.

Australian Property Journal. Low cattle supply across the country is a major driving force in the current tight conditions in the global beef cattle market. According to the Rabobank Q2 Beef Quarterly report, the beef market is so tight, with growing demand, that localised disruptions, including conditions in Australia, are having a far greater impact on trade and prices than typically seen.

Rabobank. Agri commodity prices have taken a tumble so far in May, dropping by 6% on average, with grains leading losses. US weather has improved permitting quick plantings and that, together with expanding corn acreage expectations, has led to heavy fund profit-taking.

The global meat sector will be holding a Food Systems Dialogue on Wednesday 26 May (AEST) to inform the first-ever United Nations Food Systems Summit which will take place in New York in September. The inaugural Food Systems Summit is drawing on the input of global experts to identify sustainable solutions for the future of food.

"The NFF values the close relationship we have with our counterparts in the UK National Farmers Union," President Fiona Simson said. "The NFF was warmly welcomed to the UK in 2019 by NFU President Minette Batters and despite the distance and geographical differences our farmers share many of the same issues and challenges as our UK peers."

"Now, more than ever, Australia needs to look further west and seriously consider the expanding opportunities presented by its allies in the Middle East. There is an abundance of opportunity not only for Australian exporters but also for strategic investment in sectors such as Australian infrastructure which will greatly assist the recovery of the Australian economy with no strings attached," AACCI President and National Chairman, James Harb.