Key segments of Australian agriculture believe that Brexit creates an "unprecedented opportunity" to lift exports to Britain, and potentially generate significant new export earnings from products as diverse as beef, lamb, rice and wine.

Australian rice exports to Britain in a post-Brexit, free trade relationship – partly underpinned by the "sushi revolution" – could realistically increase "40 fold" on current levels, according to the Australian rice company SunRice.

Australia's red meat industry sees significant potential export opportunities in Britain after Brexit. Credit:Cody Whiteman

The red meat industry says European Union trade rules, including quotas and high tariffs, significantly constrain Australia's ability to meet strong demand in Britain for high-quality red meat, and hurt Australia's ability to compete equally with other suppliers.

But in a submission to a federal parliamentary committee examining Australia's trade and investment relationship with Britain, the red meat industry says that before Britain joined the EU, it "was one of Australia's largest export destinations for red meat".