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The crucial issues shaping the future of Australia’s $150 billion agribusiness sector and being profitable in a changing world will take centre stage later this month, when the 2023 Global Food Forum returns to Melbourne.
Being held on May 25, the forum will bring together a world-class line-up of industry experts to debate and discuss the key challenges facing Australian agribusiness today.
Hosted by The Australian, in partnership with Visy and supported by the Wall Street Journal, the forum will seek to uncover how the nation can take advantage of the current wave of global opportunities.
The Australian commercial editor Jackson Hewett, who will MC the event again this year, said these conversations would be particularly important against the backdrop of tumultuous global trade in recent years.
Most notably, he pointed to the business climate post China trade barriers and what that will mean for farmers, processors, manufacturers and investors.
“We saw what happened with beef and with barley, with wine and with lobsters, and farmers, manufactures and processors are now asking themselves: is it safe to think about China exports as the place to be; what faith can I put into that market as one which will go back to the huge growth potential that it had before we had this political impasse; and how do I position my business if I am going to do it in a way that allows me to tap into a changed expectation from consumers who are in China?
“You’ve got China’s economy which is bouncing back but not as strongly as it was, and in the gap where Australian produce was out of the market, other suppliers have come into the market and successfully established their positions.
“That means the easy wins for Australian agribusiness may not be as easy anymore, and for Australian companies that means they might have to rethink their strategies, at the same time as also worrying about the risks of doing business there.”
The forum will delve into the persistent supply chain and logistics pressures that threaten to hold back this vital industry, and explore the opportunities that are opening up as a result of the recent reopening of trade with China.
The speaking line-up includes Alibaba general manager – Australia and New Zealand, Pier Smulders, who will give attendees a clear view of what the Chinese consumer looks like in their customer base, accompanied by the global buyer for Alibaba's new retail concept, Chinese supermarket Hema Fresh.
“This is a supermarket that is going to do US$140 billion worth of sales in this decade, 300 stores across the country, and it’s all about that super-fresh, super-premium product,” Mr Hewett said.
“We’re going to get a really close sense of what the Chinese consumer is thinking right now, in terms of what they’re spending their money on, and we’re going to get a really good sense of how Australian companies can interact and engage with those consumers, from the people who are actually selling directly to them.”
The politics of these relationships and the legal concerns some businesses might have will also be in the spotlight, with insights from those who had markets in China but needed to pivot when retaliatory tariffs were imposed.
Other topics of conversation will range from the ongoing struggle to manage yield in the face of skyrocketing land prices, to emerging technologies and the need for sustainable agricultural practices.
“For the cattle industry, we will be looking into the issues of sustainability, market access and where beef prices are likely to go from here,” Mr Hewett said.
“Insights from the likes of Troy Setter of CPC and David Harris from AACo, particularly, will be very interesting, and then we’ve got David Foote from Cattle Australia and ACC who will talk about the issues that are facing the beef industry.”
The forum promises to be a thought-provoking and enlightening event for anyone interested in the future of agribusiness in Australia and beyond.
Limited tickets are still available.
