Browse Data and Analysis

In 2023, Australia's foodservice industry was worth A$59 billion (US$39.1 billion). However, rising inflation and the overall cost of living have hindered its growth in 2023 and 2024.

The Kingdom of Saudi Arabia’s (KSA) regulations allow the importation of biotech plant products, but they are required to be labeled if they contain more than one percent genetically engineered (GE) plant ingredients. As a result, many retail packaged food importers do not import biotech foods due to concerns that biotech labeling could jeopardize their image.

Milk production for 2025 in Australia is forecast to increase by 1.1 percent to 8.8 million metric tons (MMT) after strong growth of 2.7 percent for 2024 at an estimated 8.7 MMT from previous years of declining production.

Grape production in Peru is forecast to reach 790,000 metric tons (MT) in marketing year (MY) 2024/2025, an increase of two percent compared to the previous year. The expected increase is due to improved climatic conditions in northern coastal regions which represents 48 percent of the total production area.

Since 2011, Peru has continued its moratorium on biotechnology due to concern on its impact to the environment. The scientific community, however pledges to adopt it . In January 2021, Peru extended the previous ten-year biotechnology moratorium for another fifteen years.

The Australian federal government’s strong support for biotechnology is evident in its considerable long-term funding commitment to research and development. Despite the contentious nature of biotech in Australia, the federal government remains a strong proponent, investing heavily in research and development and approving various genetically engineered crops for commercial use.

The food retail sector in Peru is anticipated to experience 5 percent growth by the conclusion of 2024, attributed to the overall enhancement in the country's economic landscape and targeted strategies devised by both the modern and traditional food channels.

Australian winter crops have had very challenging seasonal conditions for MY 2024/25, including low soil moisture at planting, below-average rainfall, and frost damage.

Total Saudi wheat imports for 2024/25 are forecast to reach 4.25 MMT, an increase of 2 percent over marketing year (MY) 2023/24.

Australia’s table grape production is forecast to increase to 230,000 metric tons (MT) in marketing year (MY) 2024/25, the second largest on record, from an estimated 195,000 MT in MY 2023/24.

FAS China forecasts commercial production of in-shell walnuts to rebound 11 percent to 1.5 MMT in MY 2024/25 supported by favorable growing conditions in major production areas. Improved world supplies and changing dietary concepts will likely drive nut imports to continue rising.

Australia and the United Arab Emirates announced that negotiations on a new trade agreement, the Australia-United Arab Emirates Comprehensive Economic Partnership Agreement, have concluded.