This executive summary of KPMG's full submission to Government regarding agribusiness highlights the global demographic shifts and competitive dynamics that will make food security a critical element to any long-term strategic plan for Australia in the Asian Century.
- By some estimates, up to half of Australia's current population of farmers could retire during the coming decade.
- A survey of 11,000 farm businesses found that 89 percent were Australian owned. This is amidst concerns of foreign ownership of Australian farms.
- Globally, food security will become a political and economic imperative over the next half century.