Positive steps made for trade
GRAINGROWERS welcomed news of the successful joint scoping exercise by Australia and the European Union as a positive step towards starting negotiations for a Free Trade Agreement.
Grain Growers general manager, policy and innovation, David McKeon said while the EU was a significant grain producer in its own right, particularly of wheat and barley, it provided an important market for Australian oilseeds.
“It is a particularly important market for Australian canola, accounting for an average of 57% of our canola exports markets in the five years to June 2015, and worth $900 million a year,” Mr McKeon said.
“Australia is second only to Canada as the largest canola exporter in the world, at 2.5 million tonnes per year.
“Our canola has enjoyed a price premium of up to AUD$50 per tonne into the EU in recent years due to the Australian industry’s capacity to carefully manage the supply chain and deliver nongenetically modified canola.”
IMPORTANT MARKET: GrainGrowers is hopeful Free Trade Agreement negotiations will happen.