A further slowing in growth
Speaking at International Dairy Week in Tatura, Victoria, Grant Healy of NAB Asia said the growing demand for Australian agricultural produce in Asia represents a sustainable opportunity for Australian dairy producers and processors.
The growing demand for Australian agricultural produce in Asia represents a sustainable opportunity for Australian dairy producers and processors, according to NAB.
Speaking at International Dairy Week in Tatura, Victoria, the Director of NAB’s Asia Desk, Grant Healy, provided insights into some emerging trends and opportunities.
“NAB has had a presence in Asia since the late 1960s, and the driving force we’re seeing on the ground is rapidly growing demand for Australian agricultural produce and the quality and consistency it represents,” said Healy.
The market for Australian produced infant milk formula, in China in particular, is growing rapidly and this is forecast to continue.
China’s 248 million-strong middle class continues to grow and the buying power of these consumers is driving sustainable demand for quality food products.
“In addition to the dairy export staples of powdered and extended shelf life milk, we’re also seeing an increase in demand for products like cheese, butter and liquid milk,” Healy said.
China’s consumers are increasing their demand for protein, including dairy products and the country is looking to secure food supply with operators and suppliers in Australia.
China and Japan represent Australia’s most important dairy export markets, together accounting for almost a third of all Australian dairy exports. “Realising opportunities in these markets can be a challenge for processors and producers with limited experience or presence in Asian markets,” Healy said.
NAB works with businesses on both sides of the equator to establish relationships and networks across the region, providing market insights and actively supporting business development and trade flows into and out of Australia.
Over the last 40 plus years, NAB has steadily grown its presence and networks through Asia, and today has a team of over 450 employees in China, Japan, Hong Kong, India, Singapore and Indonesia.
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