Australian government will invest 36 million Australian dollars (35.3 million U.S. dollars) to expand its food into the growing Asian market which is mainly pulled by China, according to a new plan released recently.
The National Food Plan, announced by Agriculture minister Joe Ludwig, is designed to help Australian food producers to better seize the opportunities brought by the rise of Asia.
"By 2050 world food consumption is expected to be 75 percent higher than in 2007, and almost half of this increased demand will come from China alone," Ludwig said.
Australia set a goal to increase its agriculture and food- related exports by 45 percent by 2025, according to the plan published on the department's website.
The plan mapped out the future for the Australian food businesses as the main player in the "Asian dinning boom" by exploiting its own advantages and expertise.
Australia exports about 55 percent of its food production and the country is eager to have a globally recognised safe and high- quality food brand.
According to the plan, to achieve the enterprising goal as well as to place Australian food producers on the right track, the government will put 28.5 million Australian dollar (27.9 million U. S. dollars) out of the total sum to the Asian Food Markets Research Fund, which is designed to assist Australian businesses to better understand the emerging market of the region.