Victoria’s primary producers and food manufacturers have delivered another year of record-breaking exports, leading the nation and hitting the state’s $20 billion target six years ahead of schedule.
The Victorian Government has released the 2023-24 Food and Fibre Export Performance Report, which shows Victoria is Australia’s top food and fibre exporter, capturing 27 per cent of the total national export value.
The results cement Victoria’s position as the nation’s premier state for food and fibre, building on two consecutive years of record-breaking numbers and seeing the state exceed the Government’s ambitious target of $20 billion in food and fibre exports by 2030.
Victoria was one of only two states to record growth in food and fibre export value in 2023-24.
Butter exports surged by an incredible 81 per cent – a testament to the quality of our produce, sustainable practices and safety standards.
The Victorian Government is actively supporting industry and business to develop on-farm technology, food innovations and process efficiencies that will boost productivity and meet record supply demands across the sector.
China remained Victoria’s largest export market, totalling almost $5 billion in value in 2023-24. Victoria saw growth in export value to many of our key markets in addition to China, including the United States, Japan, South Korea, Vietnam and India.
Australia’s network of Free Trade Agreements strengthens Victoria’s position as a strategic base for companies looking to expand into key global markets – simplifying access, lowering trade barriers and supporting greater international collaboration.
As the global trade environment faces uncertainty, the Victorian Government is backing the state’s exporters – investing $34.9 million in the Victorian Budget 2025/26 to support small and medium-sized businesses to identify new markets and diversify their customer base.
The Government is also investing $18.8 million in the Trade and Investment Network which supports Victorian exporters, creating more opportunities for business right across the state.
Victoria’s thriving food and fibre sector, supported by world-class infrastructure and a strategic location, presents exceptional opportunities for foreign investors seeking to capitalise on growing Indo-Pacific demand.
The Government’s Economic Growth Statement identifies Agribusiness as a priority sector and trade as a critical driver of economic growth. Agriculture production is an integral part of Victoria’s regional economy, which is home to around 75 per cent of the industry's workforce.
Read the 2023-24 Food and Fibre Export Performance report here.
Explore Victoria’s dynamic agtech sector.
