The 2017 financial health Barometer survey- Food & Farming Report by RaboDirect has revealed a number of findings about food wastage.
The report found that Australians throw away approximately $10 billion of the food that is purchased every year, according to FarmOnline.
On average all Australian householders throw out approximately 14% of the food that they buy.
This amounts up to every household wasting $1,050 every year, according to research findings by RaboDirect.
The nationwide food wastage totals to $9.6 billion.
Younger generation consumers based in NSW and Victoria are believed to be the worst culprits.
The baby boomer generation wastes 7% per week, while Generation Y wastes at least 20% on a weekly basis.
In city, consumers were food to throw away more than 16% of food the research found, while consumers in rural areas wasted approximately 10%.
The research found that those possessing greater knowledge of farming and food production are more likely to be careful about making full use of their food.
The Future of food production
With population growth and the demand for food increasing at a rather rapid rate, the impact of food wastage was highlighted by the report.
With at all four babies born every second, the world population is expected to hit 9.8 billion by 2050.
Providing adequate food for all of these people would mean that food production would have to increase by at least 60%.