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Australia is a major producer of raw materials and processed foods but imports a growing volume of food and beverages.
The Australian dairy and dairy products industry is still recovering from drought and the volume of milk production is expected to be around 9.6 million metric tons in 2015.
Australian wheat production for 2014-15 is expected to fall to 24 million tons due to lower than expected rainfall and declining yields.
The Australian federal government is very supportive of biotechnology and has committed considerable long-term funding to research and development.
Drought in major cattle regions in Australia has significantly increased slaughter and production as producers bring forward turnoff, depressing domestic prices but boosting exports.
Australian sugar production is projected to grow to 4.6 million tonnes in 2014-15 with sugar cane acreage up slightly.