The recent DuPont Australia food security forum brought to the forefront a “critical conversation for Australia,” according to participant, former Deputy Prime Minister and trade minister, Hon. Tim Fischer.
Australian food security experts participated in a panel discussion hosted by DuPont Australia on March 11 in Canberra. Photo by Firedust.
Fischer was part of the eight member panel that discussed new research from the Economist Intelligence Unit (EIU), Feeding Asia Pacific: Australia’s role in regional food security, at the event held in Canberra last week. The forum was hosted by DuPont Crop Protection President, Rik Miller.
The DuPont-commissioned EIU report recommended several key measures that could potentially increase Australia’s food security role in Asia. Panel member, Matthew Cossey, CropLife Australia CEO, said that the “greatest challenge” and most concerning issue in agriculture was that latest data from 2012 indicated the Australian economy attracted about $170 billion worth of foreign investment but the agricultural sector accounted for about $3.5 billion of that amount.
“I think that is probably the largest issue that we need to be talking about in agriculture from an investment perspective,” he said.
The forum was held at the National Press Club and brought together nearly 100 leading figures from agriculture, policy, trade and economic sectors.
For more information about the food security event and to read the full EIU report visit, dupont.com.au
Australia could increase its food security role in Asia, with food consumption modelled under specific scenarios to more than double by 2030, according to new research from the Economist Intelligence Unit (EIU).
The EIU report, commissioned by DuPont, considers scenarios for economic growth in the sector over the next decade, providing an outlook to 2030 that points to a situation where real per-capita food consumption could increase by 79 percent for developing countries, and could more than double in China and South Asia.
This forecasted spike in food consumption begs the question of who will fill the market gap. The report suggests that if Australia is to capitalize on this opportunity, the country should consider changes in the nation’s political and global approach toward agriculture.
Protection President Rik L. Miller said that despite challenges uncovered in the EIU report, opportunities are available for Australia to make a greater contribution to Asian food security and increase the international competitiveness of its farming sector.
“Ensuring food security, with the increasing need for food in a developing Asia, will require sustained growth in agricultural productivity in the continent of 1-2 percent a year for the coming two decades,” Miller said. “This is not an impossible task, but it will require investment and policy reforms if the rise in demand is to lead to better nutritional outcomes and a more food-secure Asia.”
A few of the key findings from the EIU report:
- East Asia’s dominance as the target of Australia’s exports will continue to grow over the next 15 years. China is the primary export market, although the region as a whole imports more than two-thirds of all Australian merchandise exports.
- Australia’s potential to serve as a food bowl for Asia is dependent on how high Asia’s economic growth rates will be and how this growth will influence structural changes and import demand in Asia.
- There are considerable opportunities for Australia to serve as a primary exporter of natural resources and agricultural products to these Asian countries.
Read the full EIU report and learn about the food security event online, dupont.com.au, click on Feeding Asia-Pacific..
Some of the Australia’s most respected food security experts will participate in a special forum, on Tues., March 11, in Canberra. The panel is gathered to discuss new research findings in the Economist Intelligence Unit (EIU) report, Feeding Asia Pacific: Australia’s role in regional food security.
The forum, hosted by Rik L Miller, DuPont Crop Protection president, is the latest in a serious of global food security spotlight events, which have taken place around the world since the launch of the EIU’s Global Food Security Index, sponsored exclusively by DuPont.
Since 2012, DuPont has been bringing people together from around the globe to talk about the critically important challenge of food security – from Washington DC to Chile, Johannesburg to Brussels, Sao Paolo to Mexico and Singapore to New Delhi.
DuPont is proud to bring that discussion to Canberra, Australia, to examine the significant role Australia plays in helping meet the food needs of a rapidly growing Asia Pacific region.
On the panel:
- David Speers, Sky News, political editor – Panel moderator
- Hon. Tim Fischer, Australia Crop Diversity Trust, board member
- Gary Dawson, Australian Food and Grocery Council, CEO
- Cameron Hall, Elders, general manager, trading
- Matthew Cossey, CropLife Australia, CEO
- Phil Todd, Economist Intelligence Unit, Global Custom Research Director
- Rik Miller, DuPont Crop Protection, president
Be a part of this event. Visit dupont.com.au to learn more about the event or follow us on Twitter @DuPontAusNews and join the conversation using #asiafoodbowl,
The forum will be broadcast live on the Australian Public Affairs Channel and the Australia Broadcasting Corporation’s national news channel ABC2. The broadcast can be viewed via a livestream on their website, www.apac.tv.
A download on demand webcast will be available shortly after the event. We will share website details when they are available.