Victoria Cements Position as Australia's Top Food Exporter, New Report Reveals
- Yvonne Chang
- Jun 27, 2025
- 3 min read
Updated: Jul 14, 2025
Victoria has reinforced its status as Australia's premier food and fibre exporter, accounting for 27% of the national total by value in the 2023-24 financial year. The findings, detailed in the newly released Victorian Food and Fibre Export Performance Report, confirm that the state's strong post-pandemic recovery was not a one-off event but a sustained trend driven by strong production, favourable prices, and increasing geographic diversity.
The annual report, a key reference for industry and government, highlights a dynamic global trade environment where Victorian exporters are successfully navigating market shifts and capitalizing on new opportunities.
Key Food Export Categories Driving Growth
While the report covers a wide array of products, several key sectors were instrumental in the state's export success. Meat exports were a standout performer, fuelling significant growth in some of Victoria's most valuable markets.
According to the report, other major export categories where Victoria shows strong performance include:
Grain
Dairy
Horticulture
Seafood
Animal Fibre
Skins and Hides
These categories are fundamental to Victoria's export portfolio, with China being the top destination for all of them.
Key Market Dynamics: The Rise of the US and Diversification
One of the most significant developments in the 2023-24 report is the shift in Victoria’s top export destinations.
The United States is now Victoria’s second most valuable export market, overtaking Japan for the first time. This was fuelled by a remarkable 42% increase in meat exports to the US compared to the previous year.
China remains the dominant market, holding its position as the number one destination for Victorian grain, dairy, horticulture, seafood, animal fibre, and skins and hides.
Japan, despite moving to the third position, still saw its export value from Victoria grow by a healthy 11%, largely due to a one-third increase in meat imports.
The report underscores a successful trend towards market diversification. The combined export value to the top four markets—China, the USA, Japan, and India—grew by 10% to total $9.4 billion, representing 46% of all exports.
Growth in Emerging Regions Signals New Opportunities
While established markets performed strongly, the report identifies significant growth in other regions, offering valuable insights for exporters looking for new frontiers.
South Asia has emerged as a consistent growth engine, with export values increasing every year since 2020. In 2023-24, exports to the region surged by 33%, driven by strong demand from India, Bangladesh, and Pakistan.
The Middle East and North Africa (MENA) region grew by 5% overall. This growth is particularly noteworthy as it occurred despite a 24% decline in the UAE, the region's largest market. The drop was offset by a significant increase in meat imports by Iran, which became the fourth-largest market in the region with imports valued at over $160 million.
In contrast, exports to Southeast Asia, while still accounting for a significant 22% of the total, contracted by 2% during the period.
Looking Ahead: Navigating a Complex Global Landscape
The report notes that global trade dynamics, including sanctions and transport challenges in other parts of the world, have influenced Victoria's export performance. Looking ahead, the Victorian Government acknowledges that political instability and conflict could continue to affect key trade partnerships.
Through its international network, Global Victoria aims to continue identifying new growth opportunities and supporting the state's exporters as they adapt to evolving market access conditions and consumer demands.
For a deeper analysis, the full 2023-24 Victorian Food and Fibre Export Performance Summary Report and an interactive data dashboard are available on the Global Victoria website.
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