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Central Queensland’s beef industry is reaping the benefits of free trade agreements put in place by the Liberal Nationals Government and is set to earn even more from annual tariff cuts which came into effect on 1 January.
Queensland’s frozen, and fresh and chilled beef exports brought in around $5.4 billion in 2018-19. Free trade agreements secured by the Government continue to deliver export opportunities for the region’s graziers in lucrative markets such as China, Japan, Korea and across the Pacific
Under the China-Australia Free Trade Agreement, Chinese tariffs on our beef exports fell to a range of 4.8 to 10 per cent on 1 January 2020, and they will be eliminated in 2024. Under our free trade agreement, China’s volume trigger for possible safeguard measures increased to 180,000 tonnes from 1 January 2020.
In 2018-19 Queensland provided more than $1 billion worth of beef into Korea. No doubt we will build on that with tariffs on beef into Korea – Australia’s fourth largest market – cut to 21.3 per cent this year and scheduled to be eliminated in 2028.
Exports of fresh, chilled or frozen Queensland beef into Japan were worth over $1.5 billion in 2018-19. Under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) we will see Japanese tariffs on our beef fall on 1 April 2020 to 25.8 per cent, with further tariff cuts to come in future years.
Free trade agreements were delivering benefits to Central Queensland’s primary producers, farmers, small businesses and rural communities.
Our beef exports are on the up and up. Just one example is our exports to China, which increased by 8 per cent in shipped weight last year, despite the ongoing impact of drought.
A competitive agricultural sector with increased farmgate profitability and greater trade opportunities is critical to our economy and our rural and regional communities.
The National Party of Australia today officially marked its centenary – making it the second oldest party in the Commonwealth Parliament.
The Party commenced a year of centenary events with a commemorative tree dedication at the National Arboretum in Canberra to recognise the Party’s three Prime Ministers and celebrate the strength and resilience of regional Australia.
nationals.org.au/the-nationals-mark-100-years/?fbclid=IwAR2hYsXbAWnt8BtwvrEkwAuEEZs7UUMolkm_SEOza...
The new Regional Investment Corporation (RIC) loan for farm-dependent small businesses are now available.
These loans are for small businesses that supply primary production related goods or services to farm businesses in affected areas, to help ensure profitability and productivity into the future.
More detail including application forms is available from www.ric.gov.au
Great to see the rain falling on Goondoon street... how many millimeters are you getting?