Taiwan could become a prime target for Australian agtech companies according to a report released by Trade and Investment Queensland.
The report, Opportunities for Queensland businesses in Taiwan’s agtech market, examines the pressures driving agricultural change in Taiwan and how they are contributing to the adoption of new farming technologies.
It noted factors such as an aging farming community, extreme weather patterns from climate change and lack of farmland create a need for new solutions for the country’s agriculture industry.
While the cost of agtech may prevent businesses from reaching smaller farms the report said there are opportunities for labour-saving devices such as drones, sensors, satellite aerial photography and image analysis, especially low-cost options.
The report said agtech working with manufacturers or farmers’ associations would be key to gaining traction in Taiwan.
Patrick Hafenstein, Queensland trade and investment commissioner for Taiwan, said Queensland exporters were well positioned to take advantage of the opportunities available in Taiwan.
“Queensland agtech businesses have a chance to enter a premium market that’s located close to Australia and well supported by government initiatives,’ Hafenstein said.
“Agriculture in Taiwan is facing pressure from a range of challenges. This report provides Queensland businesses with the latest market insights and strategic information to help them explore export opportunities related to these challenges,”
Hafenstein said Queensland’s reputation for world-class agricultural ingenuity would give the state’s suppliers a competitive advantage in Taiwan’s rapidly evolving agtech market.
“Queensland’s agricultural sector is known for its ability to develop technologies that improve efficiency, sustainability and productivity,” Hafenstein said.
“On top of that, the Taiwanese Government has designated smart agriculture as a key priority.”