‘Weird’ Asian food market worth billions but not for the average Australian

Australia’s food market is worth billions of dollars, but not the average American, a new report has found.

The research from the University of New South Wales (UNSW) has revealed that Asian markets account for more than 60 per cent of Australian imports, more than double the proportion in the US.

But Australia’s biggest market, New Zealand, accounts for only 13 per cent.

New Zealand imports about 10 per cent more food than Australia, according to the UNSW report.

Australia has imported about 70 per cent less food than the US since 2000, the study found.

“In the past decade, we’ve seen the impact of the global financial crisis, which has resulted in a significant fall in the value of Australian exports, and that has translated into an increasing concentration of Australian food imports in New Zealand,” UNSW’s Dr John Kelly said.

“In fact, the share of Australian goods that come from New Zealand has increased from 25 per cent in the late 1990s to 41 per cent now.”‘

There is a real risk of a food shortage in the coming years’ Kelly said the growing imbalance between Asia and the US was causing food prices to rise.

“[There is] a real danger of a future food shortage, and it’s going to get worse in the next two to three years.

There’s a real possibility that we’ll get to the point where we’re importing less food, or importing food from China, and if we do that, we’re just going to have a bigger food gap.”

“The global financial market is now in a state of crisis, and as a result we’re seeing food prices skyrocket, and there is a growing concern about food shortages in the years ahead.”

The UNSW research found that Asian food markets were more heavily reliant on US crops than Australian crops, mainly corn and soybeans.

It also found that more than a third of Australian farmers were using imported seeds, including soybean, wheat and rice, and about a third relied on US imports of soybeans and corn.

In New Zealand alone, imports of wheat and maize have increased by about 80 per cent since 2000.

Some of the major Asian food producers include China, Japan, South Korea and Taiwan, which together account for about a quarter of Australia’s rice production.

Kelly told the ABC that Asian countries were the top producers of wheat in Australia, but he did not know the price of Australian wheat, because it was not included in the UNSCR (World Trade Organization) food price index.

He said it was difficult to say what the price was because of differences in wheat prices between Australia and the rest of the world.

China imports about 30 per cent (US) of Australia, while Japan imports about 22 per cent and South Korea imports about 16 per cent, according the UNSwansea University.

US rice prices are up about 10 cents a bushel in New Southland, about 10 cent in Queensland and up more than 10 per,cent in Victoria, the report found.

China imports almost 70 per per cent(US) and South Korean rice imports about 14 per cent.(UNSW/New South Wales Institute of Technology) China is also the largest importer of Australian pork, with more than 100,000 tonnes imported in 2015.

China’s pork consumption has increased to nearly 3.5 million tonnes per year, more compared to the United States, which imports about 1.3 million tonnes.

Taiwan imports more than 70 per, and South Koreans import about 12 per cent as of this year.

According to Kelly, a shortage of rice in Australia could make rice more expensive than in the rest a large amount of Chinese rice is currently used to feed livestock, and the UN report said a shortage in wheat was also a risk for farmers.

Food price volatility In a statement, a spokesperson for Australia’s Food and Agriculture Minister, Nigel Scullion, said the country’s reliance on the US grain market was a “critical asset”.

“Australia’s import costs to the US are estimated at more than $40 billion a year, and this is partly offset by the relatively low costs of US food imports, which account for just over 2 per cent,” he said.

“Australian farmers can expect to spend $3,000 per hectare of wheat to feed cattle and other animals on the feedlot in New York, and another $6,000 on corn for livestock in Chicago.

We expect to be able to feed more cattle on feedlot-produced wheat in 2020-21, and beef on feedstock-produced corn in 2025-26.”

Scullion said Australia would need to “do more to help ensure we’re supplying the right food to Australians”.

“It’s important that we do a lot more to make sure that we have the right amount of food on the table, and in the right supply chain, and also to