THE RELEASE of the 2023-24 Food and Fibre Export Performance Report, once again shows Victoria is Australia’s top food and fibre exporter, capturing 27% of the total national export value.
The state’s Minister for Economic Growth and Jobs, Danny Pearson, said Victoria’s primary producers and food manufacturers have delivered a second consecutive year of record-breaking exports, hitting the $20 billion target six years ahead of schedule.
Victoria was one of only two states to record growth in food and fibre export value in 2023-24.
Butter exports surged by an incredible 81% – a testament to the quality of Victoria’s produce, sustainable practices and safety standards, the government said.
China remained Victoria’s largest export market, totaling almost $5 billion in value in 2023-24, but there was growth in export value to other key markets, including the United States, Japan, South Korea, Vietnam and India.
“We are facing an uncertain global trade environment. That’s why we’re backing our exporters – investing $34.9 million in the Victorian Budget 2025/26 to support small and medium-sized businesses to identify new markets and diversify their customer base,” Mr Pearson said.
“We’re also investing $18.8 million in our Trade and Investment Network which supports Victorian exporters, creating more opportunities for business right across our state.”
The Government’s Economic Growth Statement identifies Agribusiness as a priority sector and trade as a critical driver of economic growth. Agriculture production is an integral part of Victoria’s regional economy, which is home to around 75% of the industry's workforce.
“When it comes to food and fibre, we are the reigning Premiers – and we have absolutely smashed our export target six years ahead of schedule,” Mr Person said. “Every contract signed by a Victorian business to sell their goods overseas helps to grow jobs at home, and that’s why we back our exporters so strongly.”