China eye on ag PrintIncrease Text SizeDecrease Text Size12 Nov, 2013 03:00 AMPAULA THOMPSON TRADE FOCUS: PIRSA agribusiness and regions director Justin Ross with Agribusiness Association of Australia executive officer Deborah Baum at the association s meeting in Adelaide on Thursday.TRADE FOCUS: PIRSA agribusiness and regions director Justin Ross with Agribusiness Association of Australia executive officer Deborah Baum at the association s meeting in Adelaide on Thursday. THERE is no doubt Chinese investor interest is turning from the minerals and resources sector towards agriculture, according to PIRSA agribusiness and regions director Justin Ross. He was guest speaker at an Agribusiness Association of Australia event at the Sebel Playford in Adelaide on Thursday last week. The event brought in more than 120 people - a record for the association. Were trying to look at this from a different perspective, he said. Engaging with China is not new, theres always been a strong level of trade and engagement, but traditionally its been looked at from a western point of view. While weve enjoyed success in the past, its clear with the growth in China and the changing way of doing business that we need a strong understanding of how China operates. Thats why PIRSA is trying to make significant improvements to what we do, to make sure were looking at this not only from the supply side, but also from the demand side. Mr Ross said a paper released last week by company KPMG and the University of Sydney provided very useful insight on Chinese investment. There are significant impacts already being felt here from the evolution in China, he said. This is especially so for the wine sector, with China a growing market for increasingly high-value wines. Mr Ross said a government delegation to China in April this year - which he was a part of - highlighted the interest in agribusiness from Chinese investors. It was primarily a minerals and energy delegation with agribusiness a smaller component, he said. On meeting with a very significant state agency - the National Development and Reform Commission - it was obvious they werent interested in talking about minerals and energy, they were interested in food and food production systems, and in particular sustainable food production going forward. Australia was seen as an attractive package for investment, particularly when mixed with the nations good-value and well-regarded education for overseas students.
Posted on: Mon, 11 Nov 2013 21:24:55 +0000
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