Food Exporters in Australia Struggle as China Relations Sour
- Shipments to contract 10% by value in 2020-21, Abares says
- Drought recovery expected to crimp beef production, sales
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Australia’s food exporters are facing a challenging year, with the value of shipments set to drop by 10%, as the country grapples with souring Chinese ties, shrinking meat sales and a virus-driven downturn in demand.
Government forecaster Abares expects agricultural exports to shrink to A$43.5 billion ($31.7 billion) as prices for many of its exports, including meat, wheat, barley and wine, slump because of the pandemic and Chinese trade restrictions.