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Australia and the United Arab Emirates announced that negotiations on a new trade agreement, the Australia-United Arab Emirates Comprehensive Economic Partnership Agreement, have concluded.

Australia is experiencing a cost-of-living crisis due to rising inflation. Consumer behavior and societal trends are driving shifts in shopping habits. Meanwhile, sustainability, waste reduction, food integrity, and healthy eating are key factors influencing product choices.

In 2024, Australian beef supply has surged and is projected to reach the second-highest production level on record in 2025. This anticipated expansion follows a major turning point in 2024, with production estimated to increase by 14 percent from 2023 and 34 percent from the 2022 low.

Australia’s table grape sector has made great strides during the last 10 years, raising production by more than a third and exports by 50 percent. Despite 2 years of declining production and exports due to COVID-19 constraints, investments in vineyards prior to and during the pandemic have set the industry on a path to continue its upward trend.

After a record setting winter crop in marketing year (MY) 2022/23, Australia is expected to produce a more subdued, but still strong grain crop in MY 2023/24.

Australia’s sugar production is forecast to increase to 4.4 million metric tons (MMT) in marketing year (MY) 2023/24, from an estimated 4.2 MMT in MY 2022/23. This increase is due to an expected rise in sugar cane crush to 33.5 MMT in MY 2023/24, from an estimate of 32.6 MMT in the previous year.

Australian oilseed production, dominated by canola, is expected to be strong again in marketing year (MY) 2023/24, but down from the record in MY 2022/23. Canola production is forecast in MY 2023/24 at 5.5 million metric tons (MMT), the third largest from the record-busting crop estimated at 8.3 MMT in MY 2022/23.