Rising Chinese demand fuels Australia exports
Updated: 2013-10-21 16:11
BEIJING -- Soaring demand from China has trigged a surge of exports in Australia's Victoria state.
As surging demand for Victorian grain, beef and lamb was registered in China, the value of the state's farm and food exports has hit a record high of AU$9.4 billion ($9.09 billion), Australian newspaper the Age quoted a report as saying on Octorber 17.
The figures were released in the report Victorian Food and Fibre Export Performance 2012-13 by its Agriculture Minister Peter Walsh.
According to the report, China has eclipsed Japan for the first time to become the biggest buyer of Victorian-produced food. The state's food exports to China rose steeply by 73 percent to 875 million dollars in 2012-13.
The report also shows that China bought almost AU$2.2 billion of food and fibre exports in 2012-13 from Victoria, more than double what it imported from the state four years ago, taking up 23 percent of all food and fiber exports.
Peter Walsh believed that there is still plenty of room for growth in exports to China.
He led a week-long trade mission to China, with representatives of 300 businesses, mainly from food and beverage sectors.
The state's opportunity and expectation in Chinese market is not alone.
Trade between the two countries has been flourishing in recent years. China has become Australia's largest trading partner, while Australia is China's seventh largest trading partner and stable supplier of energy and resources.