Exports by Victoria’s food and fibre sector grew seven per cent last year to $19.6 billion in FY23, the state’s latest Food and Fibre Export Performance report found. Two thirds of its exports went to Asia, while the sector accounts for 24 per cent of the national total.
Victoria’s food and beverage manufacturing sector is the largest in Australia and employs more than 77,000 people.
Grain was its largest export in FY23, increasing by 26 per cent to $5.6 billion, while meat was the second largest sector at $4.5 billion.
Victoria’s key markets in 2022-23, led by China, Japan and the US, and inroads continued to be made in other strategic markets including Singapore, South Korea, and Indonesia.
Announcing the report, the government highlighted the performance of Remedy Drinks, which grew its exports by 40 per cent in FY23 to now export to more than 20 countries. It was a contributor to the 12 per cent increase in Victoria’s beverage exports, the government said.
Remedy has worked with Victoria’s trade agency, Global Victoria, taking part in three trade missions last year including the China International Import Expo where it was one of 49 Victorian exhibitors.
Remedy Drinks MD Chris Gillard said, “During our 11-year journey, we’ve seen remarkable growth, both locally and internationally, and credit goes to Global Victoria for playing a pivotal role in our international success.”
More than 70 per cent of the food and fibre produced in Victoria is exported.
Source: Victorian Government.
The breakdown for the other states and territories was Western Australia, 20 per cent; New South Wales, 17 per cent; Queensland, 16 per cent; South Australia, 11 per cent; and Tasmania one per cent. The remaining 11 per cent refers to the Northern Territory, ACT, re-exports and exports for which state details are not released for confidentiality reasons.
For the full report, click here.
