Why this is important to Wisconsin businesses: Opportunities for Wisconsin exporters
Australia is a strategic export market for U.S. exporters of agricultural machinery and equipment, and in 2014-15, the U.S. was Australia’s largest import source for agricultural machinery and parts. At $372 million, imports from the U.S. accounted for nearly half of Australia’s total imports in this category.
Almost 95 percent of all agricultural machinery and equipment (including tractors) used in Australia is imported, and demand is expected to increase. This makes Australia an ideal target market for Wisconsin companies specializing in the supply of products and services to the agricultural sector.
Asia is a prominent destination for Australian agricultural exports, and this trade is only expected to grow further, as demand in Asian markets (especially China) for high-quality food increases. Boosted by Australia’s free trade agreements, its reputation for quality produce and increasing demand from Asia, Australian agricultural exports are forecast to reach about $34 billion in 2017. The rise in demand for Australian exports has created a need for new technologies and manufacturing processes that can increase productivity, reduce operating costs and optimize crop yield.
According to the Tractor and Machinery Association of Australia, the equipment most in demand includes self-propelled boom sprayers, high-density balers, tracked tractor technology and automated feeding systems. Recently, Wisconsin-based manufacturer Miller successfully introduced their new self-propelled sprayer to the Australian market. In the future it is expected that more farmers will turn to drones, GPS and autonomous technology.
Australian farmers and distributors actively look to overseas suppliers for new and efficient products and solutions that can improve productivity and farming efficiency. Wisconsin companies interested in supplying the Australian agricultural sector should consider finding and appointing import and distribution partners to sell to the dealer network and end customers.
Companies may also benefit from attending/exhibiting at one or more of Australia’s leading agriculture exhibitions including CRT FarmFest (Queensland, June 7-9, 2016) and AgQuip Field Days (New South Wales, Aug. 16-18, 2016).