The Victorian Food and Fibre Export Performance Report 2023-24, released on 11 June, 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 Victorian 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.

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.

As we face an uncertain global trade environment, the government is backing the state's exporters by 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 our state.

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.