Heavyweights from Australia’s food and agriculture sectors are urging Australia to avoid being over-reliant on exporting raw agricultural commodities by investing more in local food production, like plant-based food, to create new profit streams.
But prominent voices from the food and agribusiness industries are urging closer collaboration to convert these raw materials into ‘value-added’ food products in what Elders chief executive Mark Allison says could be a $300 billion opportunity. “When you differentiate and put special features onto your product, that’s not easily substitutable and therefore you can command a premium for that, a slight margin,” she said. “And that margin is what we need to capture more of in Australia.”The closer the raw material is to the facilities where it is processed and manufactured, the better, according to Allison, who is also the president of the Agribusiness Association of Australia.
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