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Aussie billionaire declares war on "hidden crisis" of food wastage

Xinhua, March 28, 2017 Adjust font size:

Australian billionaire Anthony Pratt has declared war on food wastage, a problem that costs the nation's economy 15 billon U.S. dollars each year.

Pratt, a paper, packaging and recycling magnate, said at the fifth annual Global Food Forum in Melbourne on Tuesday that food wastage had become "our nation's hidden crisis" as more than 9 million tonnes of food was wasted every year.

"Food waste is not only costly to business and households, but two million children go hungry and it's our nation's hidden crisis," Pratt, executive chairman of Visy, told the forum.

"Put simply, stopping food waste would effectively double your product sales to end-customers from the same farm footprint."

Pratt's speech came as Australian Energy Minister Josh Frydenberg announced plans to convene a forum in Melbourne ahead of the government's first National Food Waste Summit in November.

"The challenge before us is considerable. Food waste is estimated to cost the Australian economy in the order of (15 billion U.S. dollars) annually and compounds social disadvantage. Solutions will require cooperation between governments, industry and other stakeholders," Frydenberg said in a letter to roundtable invitees.

It was announced at the forum that the philanthropic arms of the wealthy Myer and Fairfax families were bankrolling Australia's first ever surplus food online marketplace which they believe could one day be floated on the Australian Stock Exchange (ASX).

In his address, Pratt also made a plea for the community to encourage more Chinese investment in Australia "because it promotes exports, investment and prosperity, not to mention good geopolitical relations."

"In fact, I believe that eventually China will make a lot of what they buy from us today, either inside China or through Chinese-owned firms in Australia."

Trade Minister Steve Ciobo said Australians should have greater confidence than ever that foreign investment decisions were being made with complete transparency. Endit