Australia is a global heavyweight when it comes to exporting food - so why can’t we produce or hang on to any big listed food companies | hijessicayun
This week, another entry was added to the list as ASX-listed Tasmanian salmon producer Tassal
Arnott’s, the company behind Tim Tams, was taken over by US multinational Campbell’s Soup in the 1990s.One factor behind this dynamic is the fact that our export prowess in food is mainly in the form of rawAustralia’s small population is another inhibiting factor: while we have the landmass to grow food in abundance, 25 million mouths is not that many when compared, for instance, to neighbouring Indonesia that has a population of over 273 million.
Shouldn’t we be concerned about the number of Australian food and beverage companies that have ended up in foreign hands? As a result, Australian food giants – while they may have market dominance and long-time brand recognition – may be in “a sort of sunset phase,” Sevior says.
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