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The Australian consumer foodservice industry is valued at A$60 (US$44) billion.
Global lentil exports in 2020 jumped from $1 billion to $2.6 billion compared to the year before. Canada and Australia led the surge, accounting for more than three-fourths of the exports. Lentil exports peaked at $2.7 billion in 2015 but drifted lower through 2019, primarily due to reduced shipments from Canada to India and Turkey and from the United States to Canada and India.
Australian beef supply is forecast to begin to recover in 2022 after falling to the lowest level in decades in 2021.
Milk production in Australia in 2021 is forecast for a further increase to 9.2 million metric tons (MMT) on the back of a dramatic turnaround in 2020 as a result of drought-breaking rains and an excellent pasture and crop growing season in eastern Australia.