$1.4 million in grants to help Queensland exporters take off

7 July 2022

Cairns’ innovative agribusiness Banana Feeds Australia has been named as one of 60 recipients in the latest round of the New Market Program Grant.

The matched-funding grants are aimed at helping exporters overcome barriers to new markets and part owner and Director John McArthur said the funding will help the business further progress their export strategy in Europe.

“We produce a 100 per cent natural equine and canine supplement called B-Complete for improving the gut health, performance, well-being and general condition of horses and dogs, using locally sourced green bananas,” Mr McArthur said.

“We’re excited to make inroads into the European market, and are also hopeful clients in the UAE, who’ve been impressed with our 100 per cent natural green banana supplements, will soon become an important export market as well.”

$1.4 million was allocated to 60 companies in the latest round announced in Cairns this week at Banana Feeds Australia during a visit by the Treasurer and Minister for Trade and Investment, Cameron Dick.

He said the grants will allow great Queensland businesses to tap into valuable overseas export opportunities.

Delivered through Trade and Investment Queensland, this program offers matched grants of up to $25,000 to export-ready Queensland businesses.

Since being introduced in 2021, the New Market Program has seen 87 Queensland businesses share in almost $2.2 million.

Australian exports have risen more than 30 per cent the past year, and Queensland is currently generating one in three of those export dollars.

Over the past three years, Trade and Investment Queensland has helped Queensland businesses achieve an annual average of 356 commercial outcomes, deals that together are valued at more than $1 billion per year.

Trade and Investment Queensland is the Queensland Government’s dedicated global business agency assisting exporters and promoting Queensland as the place to invest.

The full list of recipients in the latest round of the New Market Program are