Home / Business / Industries

Australia vows to cater to China's rising food demand

Xinhua | Updated: 2013-05-27 15:28

MELBOURNE - Australian government will invest A$36 million ($35.3 million) to expand its food into the growing Asian market which is mainly pulled by China, according to a new plan released recently.

The National Food Plan, announced by Agriculture minister Joe Ludwig, is designed to help Australian food producers to better seize the opportunities brought by the rise of Asia.

"By 2050 world food consumption is expected to be 75 percent higher than in 2007, and almost half of this increased demand will come from China alone," Ludwig said.

Australia set a goal to increase its agriculture and food- related exports by 45 percent by 2050, according to the plan published on the department's website.

The plan mapped out the future for the Australian food businesses as the main player in the "Asian dinning boom" by exploiting its own advantages and expertise.

Australia exports about 55 percent of its food production and the country is eager to have a globally recognised safe and high- quality food brand.

According to the plan, to achieve the enterprising goal as well as to place Australian food producers on the right track, the government will put 28.5 million Australian dollar (27.9 million U. S. dollars) out of the total sum to the Asian Food Markets Research Fund, which is designed to assist Australian businesses to better understand the emerging market of the region.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349