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.
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%)
GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.
Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.
Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending
Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.
On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.
Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending
Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.
Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.
Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending