Senate Rural and Regional Affairs and Transport Legislation Committee, , 2:53:26 to 2:57:23
ABARES provides a forecast of record agricultural export values, highlighting strong performance in red meat and crop volumes across global markets.
Topics: Exports, Beef exports, Trade policy
Speakers: Speaker 14, Tina Hutcherson, Speaker 26, Speaker 8, Ms. Tina Hutcherson
>> Thanks. Okay, if I may just um I just realized that I made a mistake in terms of the numbers I presented read in. So they were for all engineered products, not just the LVL. Um same trends and and the like for the LVL subcomponent, but the total for LVL imports in 2425 was 137 million. Um not the 1 billion, around the around billion, which is for all engineered products. Um, and it looks like the key market still is China. But
>> does that mean I don't get a price reduction?
>> I think you still do. Yeah. >> Yeah. It's still the same story. Just uh absolutely.
>> Thank Thank you, Senator Dea. >> Thanks, chair. Um just uh in relation to trade um I would like to just clarify um I would ask in relation to the recent um global market volatility um ranging from the commodity price shifts to the geopolitical disruptions uh how resilient have Australian agricultural exports been and which sectors are showing the strongest performance?
So, thank you for the question, Senator. Um, maybe I can pro provide just a bit of a a broad overview and then Mr. Campbell and Mr. can can provide some some detail. Um, but as as we've seen, so for this financial year, exports are looking strong. agricultural export values are forecast to rise by about $3.1 billion um to a record of $78.9 billion. Um what we're seeing is strong red meat um markets and exports um particularly as the like we discussed the demand into the US but we've seen a price and a volume shift across the board really in in terms of our our exports. Um for crops, crop volumes are still strong. Um however, we are seeing some moderation in industry in global prices. So there's quite a significant increase in global production effectively. So global balance sheets and stock ratios and so forth are looking quite strong in that respect. But in terms of I guess individual markets, I can hand to my colleagues that might want to make some additional
statements. Thanks. So um Senator in relation to to value um so uh in terms of markets and destinations we certainly have seen um strong exports to the United States um which have increased 30% um between the 2425 and 2324 financial years um to the EU to India um we've seen the result of uh good outcomes with um the UK FTA and the EU FTA, we've seen um improved um uh exports to to both of those um countries or and regions. Um in terms of uh specific commodities, um beef and ve um we've talked about again for the same time period has increased 30% in value. Sheep meat 18% in value. Um and we've se seen a range of um plant products increase in value um like uh chickpeas, almonds and grain sorghum. So there are um a range of commodities to a range of markets that certainly have shown um improvement over th that that time
period. >> Very good to hear about the beef as well. Thank you for that. Um, and
regarding the >> Apologies, Senator, I should have said um, UAE FTA if I mistakenly didn't say that properly. I mean the the FTA to the United Arab Emirates. Thank you.