Money
This Aussie vegetable is harvesting into a $100M industry
When you think about the Aussie export market, you might think about coal, meat or even gold… but this golden vegetable is making its way to the top of the country’s export list.
Australian carrot exports rose more than 7 per cent last year to become a $100 million dollar industry.
While exports of fresh vegetables were down overall last year, carrot exports increased in both volume and value.
Over 110,000 tonnes of carrots were exported last year with the majority sent to Asia and the Middle East.
Western Australian carrot production continues to expand to meet increasing international demand, and the state accounted for 85 per cent of carrot exports.
Incoming AUSVEG chief executive Michael Coote says that with hospitality and the food service sector shutting down in Australia as a result of the pandemic, the exact same situation was happening in export markets.
“Restaurants, cafes, hotels, bars and pubs were all shut down and people were eating from home. So retail demand went up considerably in a lot of countries, as it did here … and carrots, as a staple vegetable that we use in the majority of the dinners, did too. The same thing was happening in Singapore, Hong Kong and all of our major markets.”
“Carrot exports have continued to grow, especially in the past couple of years,” Mr Coote told abc.net.au.
What other goods lead Australia’s export market?
The nation still leads the world when it comes to exporting iron, coal and petroleum gases.
Australia’s biggest export products by value in 2020 were iron, coal, petroleum gases, gold and aluminium. In aggregate, those major exports account for 63.1% of overall exports sales from Australia.
The following export product groups categorize the highest dollar value in Australian global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Australia.
- Ores, slag, ash: US$91.3 billion (35.9% of total exports)
- Mineral fuels including oil: $65.4 billion (25.7%)
- Gems, precious metals: $19.6 billion (7.7%)
- Meat: $10.4 billion (4.1%)
- Inorganic chemicals: $5.2 billion (2%)
- Machinery including computers: $4.4 billion (1.7%)
- Cereals: $3.8 billion (1.5%)
- Pharmaceuticals: $3.4 billion (1.4%)
- Electrical machinery, equipment: $3.1 billion (1.2%)
- Aluminum: $3.1 billion (1.2%)
Money
U.S. stocks falling amid AI worries and weak earnings
U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.
U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.
U.S. stocks are tumbling as investors grow concerned over AI profitability and disappointing earnings. Defensive sectors are attracting attention ahead of the upcoming CPI report, while market participants are carefully watching how tech-heavy AI stocks are influencing broader indices. Steve Gopalan from SkandaFX notes that these factors are shaping market sentiment.
For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.
Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.
Money
Wall Street tumbles as tech stocks face AI disruption fears
Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.
Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.
Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.
Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.
The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.
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Money
U.S. jobs report, Fed decisions, and Japan’s economic risks explained
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.
US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.
Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.
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