The Victorian Farmers Federation (VFF) is calling for urgent action from the Federal Government to strengthen Australia’s fuel security in response to global volatility and uncertainty.
Russia is the world’s second largest exporter of crude oil and their invasion of Ukraine has significantly impacted global fuel markets.
VFF President Emma Germano said the reduced global supply of fuel could have dire consequences for global food security and called on decision makers to strengthen Australia’s resiliency to fuel shortages.
“From sowing crops to transporting it to market, our entire supply chain is reliant on a secure, affordable and disruption-free fuel supply.”
“Members of the International Energy Association are obliged to hold 90 days of net fuel import and Australia has been non-compliant since 2012. While Australia does have strategic national reserves, they are stored in the United States and would take over 3 weeks to reach Australia in the event of a crisis.”
“Given the global uncertainty in the market, we’re calling for adequate resources to be allocated to the entire supply chain and our strategic fuel reserves to be brought onshore.”
“We don’t know what lies ahead, but now is the time to safeguard our industry.”
“As producers of perishable essential goods, the security and timeliness of supply are critical. We can’t afford to leave this to chance,” Ms Germano said.