China remains largest market for Australia's agricultural exports

China was the largest market for Australia's agricultural products in the 2022-23 financial year, with the value of exports reaching a new high, a report has found. In its summary of Australian agricultural exports released on Tuesday, the Rural Bank noted that while Australia's top 13 export markets recorded year-on-year growth, China remained the largest growth market for the second year in a row. According to the yearly report, the value of exports to China rose 3.1 billion Australian dollars (1.98 billion U.S. dollars), or 22.7 percent, in 2022-23 financial year (July 2022-June 2023) to a record high of 16.6 Australian billion dollars . Over the past two financial years, exports to China have risen by 5.9 billion Australian dollars, or 54.7 percent, following a drop in 2020-21. The financial institution, which mainly provided services to Australian farmers, found that the growth to China during 2022-23 was driven by a 66-percent jump in wheat exports, with increases also seen ...