The target was set in 2020 and the nation has just over four years to hit it, but Federal Agriculture Minister Julie Collins says it is already within reach.
“With Australia exporting now around 80 per cent of our agriculture, fisheries and forestry production to more than 169 markets globally, this is the most diversified our agriculture trade has ever been,” Ms Collins told the AgXchange conference on the Gold Coast on September 24.
The $100 billion mark was expected to be exceeded in the current financial year, figures from national agriculture forecaster ABARES show.
But the target measures value and does not account for costs to farmers.
Asked whether a net value target would be more appropriate, albeit “less sexy”, Ms Collins said the government’s focus was ensuring access to diversified global markets.
“Whether it’s $100 billion or $150 billion or whatever it might be, what we need to do is make sure we have markets for that great produce and that farmers and their regional communities can continue to thrive,” she said.
The United States and China are Australia’s two biggest markets and, while trade relations with China have stabilised, exports to the US face potentially damaging tariffs.
Beef exports are breaking records and were worth $16 billion in the last financial year, while the government is continuing to strengthen access to markets like the European Union, South America and South-East Asia.
“The world wants our produce and our government is laser-focused on ensuring that we can take advantage of these opportunities,” Ms Collins said.
But exports have always been on track to meet that target and it is probably the wrong indicator to pursue, Australian Conservation Foundation business and nature lead Nathaniel Pelle said.
“It’s a target that’s all about volume and revenue and not really around measuring, for example, how many healthy meals does the agriculture industry provide,” he said.
– with AAP.
