From Soy to Solar: Top Emerging Markets That Are Reshaping Aussie Farming

As one of the nation’s largest and oldest export industries, it’s safe to say that Australia’s agricultural sector has been through its fair share of evolutions. The decades of production and technological advancements have brought along with it the opportunity for Aussie farmers to cultivate a growing variety of crops with ever-increasing yields.

And now with the rise of digital technologies intersecting with growing demands for climate-resilient agricultural markets, farmers across the nation are revisiting their products and identifying new markets that they could potentially jump into. And it’s surprising to see just where our top agricultural growth areas really are, based on industry research.

To enlighten you, our agricultural experts will be outlining some of the top emerging markets that are either forecasted to or are already reshaping Australia’s agricultural landscape today.

Soy and other grain crops for plant-based products

Currently and historically, the majority of our grain and legume crops were harvested specifically to be used as livestock feed for animal agriculture. But with a rise in demand for plant protein products and alternative milk products, more Aussie farmers are allocating larger portions of their grain production for commercial use. 

This has naturally required Aussie farmers to invest in new harvesting technologies for sustainably harvested soy and other grain crops for domestic commercial consumption. Technologies like autonomous tractors, soil and water monitoring systems, and harvesters driven by IIoT (industrial internet of things) technologies have played a vital role in transforming the methods used for harvesting soy and other grains in Australian farms. 

The increased cultivation of soybeans also suits Australia’s climate quite well, which makes plant-based markets an even more lucrative investment option for Aussie farmers. With soybeans traditionally suited to subtropical and temperate climates, a growing majority of arable farmland in Queensland and New South Wales is being allocated for commercial soybean farming.

Australian native crops for climate adaptation

But soy isn’t the only crop that’s well-suited to Australia’s dynamic climate. In fact, part of the reason why Australia’s animal agricultural market is so strong is because we’re lucky enough to have ideal growing conditions for a large range of cereal grain and legume crops – including wheat and millet. 

However, some grain and materials crops can still require more water consumption than others, which has prompted Aussie farmers to consider alternative crops. For instance, hemp or weed seeds can be swapped out for cotton, rice, or almonds. 

There are also other Australian native crops that require less water consumption and may thus be more suitable for a climate-conscious agricultural sector. This includes plants like native millet, lemon myrtle, Maloga beans, finger limes, emu apples (or native cranberries), bush plums, and other fast-growing plants that are endemic to Australia and may be just what Aussie farmers need to meet their carbon targets.

There’s also strong evidence that suggests cultivating native crops may also help boost Aussie exports of fruit and vegetable crops alongside animal products. International markets may be willing to pay for native Australian crops that are exclusively produced by Australian agricultural businesses. Highly sought after native crops like finger limes and Kakadu plums could even be considered artisanal ingredients when used in chocolate-making and wine production.

Solar farming and other renewable energy markets

It’s no secret that Australia receives more sunlight than any other country in the world. With more beaches than any other country, we don’t even need scientific research to back this up – but it exists. According to Geoscience Australia, Australia receives 58 million petajoules of solar radiation per year on average. This is approximately 10,000 times larger than the nation’s total energy consumption, which means that we could feasibly power the entire country on solar energy and still have millions of petajoules remaining to sell to overseas markets. 

And with solar battery technology becoming more sophisticated, there’s every chance that Australia could single-handedly provide renewable energy to the majority of the world. We just need the solar storage technology to catch up, and when that day comes, solar farming could become one of Australia’s most lucrative agricultural markets. 

But solar isn’t the only renewable energy market that Aussie farmers are investing in. You’ll be more likely to see more wind farms popping up across all corners of the country in the near future, as well as hydroelectricity plants. These developing renewable markets are also likely to generate more agricultural sector jobs in the next decade as Australia continues to do its part in reaching the UN’s Sustainable Development Goals. 

Prepackaged animal products rather than live exports

If you take a good look at Australia’s major export markets, you’ll see that animal products are still at the head of the list. This is because red meat products like Australian Angus beef are in extremely high demand internationally – and it’s looking like that won’t change anytime soon, as once again, Australia’s abundance of land and grain production capabilities makes our agricultural sector one of the best-positioned in the world for producing animal products.

So what will change in the near future for our animal agricultural practices? Well for starters, livestock production will be more likely to be an entirely domestic process, with the rate of live exports falling year on year. This is thanks to a few key factors, including environmentalist and animal welfare concerns regarding the freight transportation of livestock, and also the transportation emissions associated with shipping cows, sheep, and other livestock.

With more animal agricultural processes projected to be carried out domestically, there’s a strong likelihood that livestock farming will generate more jobs for Australia’s agricultural sector.

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All of these emerging markets are projected to play a monumental role in shaping Australia’s agricultural sector for decades to come. Consumers can support these flourishing industries by buying Australian made agricultural products wherever possible. We vote with our dollars after all, so buying more native crop products, and locally grown fruits, veggies, and processed agricultural products will help contribute to bolstering Australia’s agricultural sector for future generations of consumers and agricultural industry workers alike.

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