Aussie food gobbled by emerging economies

With the emphasis on Fine Food Australia this month, Australia's export development agency has reported major demographic changes in worldwide food consumption.

Austrade's chief economist Tim Harcourt said the emerging "super' economies are providing a real boost for the exports of Australian fine food and wine.

"In terms of food, our markets have traditionally been in high income countries like Japan, US, UK, New Zealand and Hong Kong. But now developing economies with large middle-class consumer populations are also creating demand — especially for fine food," Harcourt said.

"For example, both China and Indonesia have joined the ranks of the top ten markets for Australian food consumption. There's no doubt that rising incomes — especially in coastal China — and Australia's "clean, green' image has helped to drive the success of Australian food exporters in both these emerging markets.

"With wine added to the find food package, Europe comes into the fore and new markets are being developed in places as diverse as Mexico and Russia. Australia's overall brand image has helped as has some savvy marketing by Australian wine exporters," he said.

Meanwhile, Austrade's national manager for food and beverages, Lyndel Jack, said Austrade will attract around 250 key buyers from Asia, the Middle East, North America and the Pacific Region to Fine Food this year (24–27 September in Sydney).

"Austrade has identified significant opportunities for Australian food and beverage exporters in the emerging markets of India, China and Russia with their large populations and growing disposable incomes," Jack said.

"India, with its population of one billion, has a growing middle class estimated to be between 200–300 million. Food and beverage sales account for more than half of consumer expenditure in India.

"The Russian Federation is one of the fastest growing emerging markets in the world. With a population of 142.7 million, imported foodstuffs make up a large proportion of Russia's food market (up to 80% in some categories) — a clear opportunity for Australian suppliers," she said.

Businesses from all over Australia will showcase a wide range of food at Fine Food Australia at the Sydney Convention and Exhibition Centre, 24–27 September. A Wine and Spirits Australia showcase (24–26 September, Wharf 8, Darling Harbour) has also been included this year and a shuttle bus service will operate between the two venues.