Business

Australia sees grain opportunities in Vietnam

Australian market analysts have seen opportunities for the local grain industry to boost exports of the products in Asia, particularly in Vietnam.
Australian market analysts have seen opportunities for the local grainindustry to boost exports of the products in Asia, particularly inVietnam.

“The local grain industry should target markets withdifferentiated products to take advantage of growing demand for grainexports in Asia, particularly in Vietnam,” Australian market analystswas quoted by the Australian Financial Review as saying.

Statistics of the Australian Ministry of Agriculture showed that thedemand for Australian wheat has climbed sharply in Vietnam, wherepopulation growth and the gradual westernisation of diets have fuelleddemand.

In 2014, Vietnam is expected to importaround 1.3 million tonnes of wheat from Australia , up from 450,000tonnes in 1999-2000.

The market for Vietnamese baguette represented a potential opportunity for local growers.

Strategic grains market analyst at the Australian Export GrainsInnovation Centre, Peter Elliott said Vietnam is potentially suitablefor Australian particular wheats and urged the local sector to target toVietnam ’s French baguette-style market.

Meanwhile, Lloyd George, market analyst at Ag Scientia Company, pointedto weather-related issues for Australian growers in consistentlyproducing the volume required to meet the Asian and Vietnameseincreasing demand.

Additionally, the Australian grain sector also considered Indonesia and China their potential markets.-VNA
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