Trade

"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.

Agribusiness Elders, reporting a strong lift in sales and profit for the half year to March, is upbeat on the rest of the year with improved winter cropping conditions and good cattle prices. Sales at Elders were up 22% to $1.1 billion and statutory profit was 31% higher at $68.2 million.

GrainCorp, releasing its half year results, sees high global demand for Australian grain and oilseeds. In the six months to the end of March, underlying EBITDA from continuing operations was $140 million, up from $105 million.

Australia produces 80% of the wool used to manufacture the world’s woollen clothing and 80% of such wool is sent to China for processing and manufacturing. In recent times, our trading relationship with China has deteriorated and there is now the possibility that China may cease importing Australian wool.

The Hon Keith Pitt MP, Minister for Resources, Water and Northern Australia and Mr Phillip Thompson OAM, MP, Member for Herbert, Joint Media Relase. The Coalition Government is investing $20 million in a Global Resources Strategy which will help diversify exports and find new markets for Australia’s resources and technology. Minister for Resources, Water and Northern Australia Keith Pitt launched the new global strategy in Townsville with Member for Herbert, Phillip Thompson. Minister Pitt said it will help to strengthen Australian resources exports and promote Australia as a reliable and responsible supplier to the world.

Agricultural commodity prices continue to perform well for Australian producers with cattle prices the most compelling after the benchmark Eastern Young Cattle Indicator (EYCI) surpassed a record 900c/kg in April. The NAB Rural Commodities Wrap, released today, reports trends in global grain markets point to encouraging news for Australian grain growers, while wool prices continue their upward trend.

The results for the 2021 London Wine Competition were announced earlier this month and the prestigious Wine of the Year award went to Lévrier Wines’ Anubis Cabernet Sauvignon. The competition, in its 4th year, is unique in that each wine is judged on quality, value and package. The 2021 edition saw entries from 36 countries. Congratulations to Jo Irvine for taking top spot in the whole competition.

Any momentum Weipa had last year to normalise the community appears to have evaporated as new Rio Tinto GM Michelle Elvy dismissed the matter last week. Speaking at Rio Tinto Weipa’s first community forum of 2021, Ms Elvy deflected the only question regarding normalisation.

Despite the global economic shocks like those produced by the COVID-19 pandemic, agricultural sectors and economies overall are better off when exposed to international trade, the latest ABARES research paper shows. The research report, Understanding effects of supply disruptions on globally and locally focused economies, examines the effects of exposure to the global market on supply chains, and the risks and shocks of this exposure.

Weipa Town Authority chairman Michael Rowland says officials must move quickly to bring the 20 men stranded on a cargo vessel to Weipa and take care of them here. Another crew member left the ship last week, taking the number to 20 on board, from 22 originally. Movers 3 has been anchored off the Port of Weipa for seven weeks and needs major repairs for it to be seaworthy. Mr Rowland said it was now a humanitarian issue and urged the relevant authorities to intervene.

Twenty-one men on board a vessel tasked to pick up bauxite from Weipa were left to starve by the Qatari shipping company that owns the vessel, angering officials in Australia. The Panama-flagged bulk carrier Movers 3 has been anchored off Weipa for a month and food had to be purchased and delivered to the ship after the crew ran out of provisions. The Australian Maritime Safety Authority, which placed the ship in detention on March 4, has slammed operator Aswan Shipping for its negligent practices. Rio Tinto has responsibility to avoid bad operators, say unions.

Consumers are being warned of inferior fruit due to arrive for the first time from Taiwan. Growcom, the peak industry body representing the Australian pineapple industry, has today voiced concerns about reports that six tonnes of fresh pineapple are to be imported into Australia from Taiwan in May.

The National Farmers’ Federation (NFF) has applauded the Federal Government’s announcement on the extension of the International Freight Assistance Mechanism (IFAM) to 30 September 2021.

Australia’s wheat crop is estimated to have surged by 119.8% to a record 33.34 million tonnes in 2020/21, according to ABARES (Australian Bureau of Agricultural and Resource Economics and Sciences). ABARES has raised its estimate of national production of winter crops by 7.4% to 55.2 million tonnes in 2020/21.

The CBH Group is accelerating export activities to meet strong international demand for Western Australian grain as record breaking shipments during December signal a busy shipping period for the first half of calendar 2021.