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Aussie push to grow its food in Asian market
Aggregated Source: Shanghai Daily: Business

THE Australian government will invest A$36 million (US$35.3 million) to expand its food into the growing Asian market, especially China, according to a new plan released recently.

The National Food Plan, unveiled 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 under the plan published on the ministry's website.

The plan sees the future for Australian food business 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 is eager to have a globally recognized food brand.

The plan sees the government putting A$28.5 million from the total sum in the Asian Food Markets Research Fund, which aims to help Australian businesses to better understand the emerging market.

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