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The Australian consumer foodservice industry is valued at A$60 (US$44) billion.
Global lentil exports in 2020 jumped from $1 billion to $2.6 billion compared to the year before. Canada and Australia led the surge, accounting for more than three-fourths of the exports. Lentil exports peaked at $2.7 billion in 2015 but drifted lower through 2019, primarily due to reduced shipments from Canada to India and Turkey and from the United States to Canada and India.
Australian beef supply is forecast to begin to recover in 2022 after falling to the lowest level in decades in 2021.
The outlook for winter grains production in Australia from mid-2015 and beyond has been improved by more reliable rainfall.
The Australian government is seeking to further develop agriculture, agribusiness and other industries in northern Australia.
The Australia-China Free Trade Agreement (ChAFTA) has now been signed and the detailed text released.