7 Horticulture

Key points o Gross value of production to rise to $17.6 billion in 2023-24 driven by higher production. o Exports to rise by 9% to $3.7 billion in 2023-24 driven by higher production. o Drier conditions are unlikely to have a major impact on Australian horticulture production. o Growth in global sup...

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Bibliographic Details
Published inAgricultural commodity statistics pp. 44 - 51
Main Author Creed, Christian
Format Journal Article
LanguageEnglish
Published Canberra Australian Bureau of Agricultural and Resource Economics and Sciences, ABARES 01.09.2023
Subjects
Agricultural commodities
Agricultural production
Agriculture
Cereals
Citrus fruits
Consumers
COVID-19
Demand
El Nino
Exports
Farms
Floods
Food
Free trade
Fruits
Horticulture
International trade
Labor supply
Macadamia nuts
Ocean currents
Pandemics
Prices
Quotas
Tariffs
Trade agreements
Vegetables
Water markets
Workers
Workforce
United States > US
Australia
India
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Summary:Key points o Gross value of production to rise to $17.6 billion in 2023-24 driven by higher production. o Exports to rise by 9% to $3.7 billion in 2023-24 driven by higher production. o Drier conditions are unlikely to have a major impact on Australian horticulture production. o Growth in global supply expected to outpace global demand in 2023-24. Easing fruit and vegetable prices relative to other food options are likely to support demand for these products; ongoing price growth differences could see some consumers substitute away from other food groups breads and cereals towards fresh produce. Recent free-trade agreements that have improved market access through lower tariffs and higher quotas will also support export volume growth: o The A-UKFTA saw the immediate elimination of tariffs often larger than 10% on most Australian horticultural exports. o The Australia-India Economic Cooperation and Trade Agreement (ECTA) which entered into force on 29 December 2022 includes reduced tariffs for key horticultural exports (for example, citrus fruits, almonds, macadamia nuts, avocados, and berries). World horticulture demand expected to grow modestly Global demand for horticultural commodities is expected to increase modestly in 2023-24 but be outpaced by growth in global supply.
ISSN:1839-8235
1839-8391