Geopolitics shape the world we live and work in. Right now, the geopolitical landscape is changing with a speed and depth we have not experienced in our lifetimes.
Geopolitical mega-trends, namely, structural shifts in the international system, rising domestic political unrest, technological transformation, and climate change, are all in unprecedented motion, and are all being accelerated by COVID-19.
In Australia, the agriculture industry is particularly impacted by geopolitics. It is inextricably interconnected with the global market.
This analysis will explore how these geopolitical mega-trends could affect the Australian agricultural industry, generating both opportunities and risks
Four key geopolitical themes affecting Australian agriculture
#1.
Shifts in the international system.
#2.
A rise in domestic political unrest.
#3.
Technological transformation.
#4.
Climate change.
Key insights:
- The strong international focus of Australian agriculture both drives growth opportunities, and exposes the sector to significant geopolitical risk.
- Four geopolitical mega-trends are particularly affecting the agriculture industry: structural shifts in the international system; rising domestic political unrest; technological transformation; and climate change.
- Critical components of success in agricultural trade are affected by geopolitics and these trends – including input control/availability, tariff and non-tariff barriers, consumer demand and preferences, and land productivity.
The Australian agriculture sector in focus
Agriculture is an important contributor to the Australian economy, worth $68 billion at farmgate in 2018-19 across crops, livestock, fisheries and forestry, and employing 330,000 individuals in these industries. 19 million hectares of Australia’s landmass is dedicated to agricultural production, driving the nation’s reputation as a dependable producer of high-quality foods.
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