A $ 592,900 federal government grant will help sugar exporters diversify into new fast-growing markets by lowering trade barriers and lowering price-distorting subsidies.
The Sugar Industry Project will provide research and analysis to support international and bilateral trade negotiations and improve access to key existing markets.
Agriculture and Northern Australia Minister David Littleproud said the grant would help the sugar industry implement its five-year strategy to expand market access and reduce trade barriers.
“This project will build on past successes in improving trade outcomes, such as successful WTO challenges and the signing of free trade agreements,” Littleproud said.
“With a potential revenue of about $ 1.2 billion from the freer flow of raw sugar between 2022 and 2040, using this will require the best information and analysis to inform the best approaches to improve our access to high value markets.”
According to Littleproud, the project will help maintain Australia’s international reputation in key high-value markets and allow exporters to receive higher premiums from importers looking for high-quality cane sugar.
Representing sugar cane producers, CANEGROWERS CEO Dan Galligan said the strategy aims to diversify raw sugar exports to non-traditional markets, improve sugar testing in Japanese ports and align Australia’s proven sustainability benchmarks with international sustainability.
“We want to ensure the long-term viability of the sugar industry, which will increase the activity of the regional communities it supports and contribute to the ambitions of Australian agriculture by 2030 to grow into an industry worth $ 100 billion,” Galligan said.
“The grant will support the industry’s first strategy for trade policy and market access. The strategy recognizes the importance of cooperation and well-informed industry experts who support intergovernmental negotiations. “