Fresh produce leaders from Australia and New Zealand were briefed on the economic outlook across China, India and greater Hong Kong at an International Fresh Produce Association of Australia-New Zealand (IFPA A-NZ) Breakfast Boardroom ahead of Asia Fruit Logistica.
ANZ Bank Economist for Greater China Vicky Zhou discussed China’s food security priorities and agricultural import diversification, the property downturn and its impact on consumption, and key risks facing the Chinese and global economy.
She also provided an update on India’s economic and agricultural trade outlook, including the implications of the AI boom and higher oil prices.
ANZ Bank Head of Australian Agribusiness Mark Bennett said the discussion provided useful context for Australia and New Zealand businesses looking to strengthen their engagement with major Asian growth markets.
“China is shifting its growth engine from property and mass manufacturing toward high-tech sectors, specifically AI, semiconductors, Electric Vehicles, batteries, and solar. There's a shift of focus from price and volume to delivering products recognised for their high quality by the rest of the world,” Bennett said.
“Domestic agricultural expansion is a top priority for China. While this may impact fresh produce trade dynamics, strong demand for counter-seasonal imports is anticipated to persist.”
Redland Premium Fruit Senior Business Development Manager Daniel Lutman said the boardroom provided useful insight into key market trends and their implications for industry and investment.
“India presents a major trade opportunity for our region, driven by ongoing infrastructure upgrades that improve fresh produce logistics across the region,” Lutman said.
“The information was concise and relevant and tailored specifically to our industry and the opportunities for Australia and New Zealand.”
Horticulture New Zealand has forecast horticulture export revenue will increase 7 percent to $9.5 billion in the year to 30 June 2026, driven by record export volumes of kiwifruit and apples, as well as elevated kiwifruit prices.
Hort Innovation recently announced Australian horticultural exports were up 13 percent on the previous year to $3.78 billion, more than double the value recorded a decade ago.
IFPA A-NZ Managing Director Belinda Wilson said Asia continued to play an increasingly influential role in fresh produce trade, while the New Zealand-India Free Trade Agreement had strengthened India’s position as a strategic growth corridor for Australia and New Zealand.
“Bringing people together, learning from each other and creating strong country-to-country relationships is one of the most impactful ways we can support long-term growth and resilience across the sector,” Wilson said.
“Thanks to ANZ Bank for providing data-driven and statistical insights that started important conversations. It was fantastic to see our members collectively digesting the information and sharing ideas about how it can benefit their own business and Australia-New Zealand trade more broadly.”
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