By: AAP
Australian agricultural could be in danger of
becoming irrelevant and is falling behind successful exporters such New
Zealand, the ANZ Bank warns.
ANZ Bank chief executive Mike Smith said a
much harder look needed to be taken at the Australian agriculturaal sector,
given its declining productivity compared to the dynamic growth of commodity
exports to Asia by Brazil, New Zealand and Indonesia.
"Brazil's soybean export industry is a
global success and it's based on sound strategy, strong alignment of producers
and government, innovative marketing and an outstanding supply chain
management," Mr Smith told a Trans Tasman Business Circle luncheon on
Friday.
"And, of course, New Zealand has done
brilliantly with its comparable achievement in dairy."
"Australia, however, is falling behind
in agriculture, and I don't believe we have even recognised it as a potential
opportunity cost, let alone a sector in danger of becoming less and less
globally relevant."
Mr Smith was talking in the context of how
Australia might become better engaged with Asia as countries in Africa, South
America and central Asia competed for greater share of commodity markets.
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