Australia

Details

  • Service: Advisory, Management Consulting, Government Advisory Services, Demographics, Economics
  • Industry: Agribusiness, Food, Drink & Consumer Products, Government, Federal Government, Asia Business, China
  • Type: Business and industry issue, White paper
  • Date: 22/03/2012

Food security and Asia-Australia relations 

Global food and fibre trade patterns are set to change dramatically over coming decades. Demand and supply trends should favour Australian agricultural producers, sustaining or increasing real price levels for many agricultural products. However, this outcome is not guaranteed – innovation, investment and structural change are all need if Australia is to make the most of its opportunities in agribusiness.

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.

 

Key insights

  • 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.
 

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