1 00:00:00,520 --> 00:00:03,280 Speaker 1: Already and this is the Daily This is the Daily OS. 2 00:00:03,400 --> 00:00:06,840 Speaker 1: This is the Daily OS. Oh, now it makes sense. 3 00:00:14,640 --> 00:00:17,000 Speaker 2: Good morning, and welcome to the Daily OS. It's Friday, 4 00:00:17,040 --> 00:00:19,400 Speaker 2: the seventeenth of October. I'm Sam Kazlowski. 5 00:00:19,600 --> 00:00:20,720 Speaker 1: I'm belief. It's Simon's. 6 00:00:21,160 --> 00:00:24,759 Speaker 2: Sometimes on this podcast we tackle the big economic stories 7 00:00:24,800 --> 00:00:27,600 Speaker 2: that shake the nation, but today we're going to look 8 00:00:27,640 --> 00:00:30,640 Speaker 2: at something that's hitting closer to home, and that's your 9 00:00:30,680 --> 00:00:33,720 Speaker 2: morning MUCHA order. If you've noticed your much A latte 10 00:00:33,920 --> 00:00:37,920 Speaker 2: costing significantly more than it used to, brace yourself. Global 11 00:00:37,960 --> 00:00:41,800 Speaker 2: retailers say Japanese Mucha prices have jumped between thirty and 12 00:00:41,920 --> 00:00:44,880 Speaker 2: seventy five percent in twenty twenty five alone, and it's 13 00:00:44,960 --> 00:00:48,000 Speaker 2: not slowing down. On today's podcast, we're going to explain 14 00:00:48,120 --> 00:00:51,160 Speaker 2: why this is happening and whether the great Mucha price 15 00:00:51,240 --> 00:00:52,519 Speaker 2: hike is going to continue. 16 00:00:55,880 --> 00:00:58,240 Speaker 1: Sam. Before we get into it, I first want to know, 17 00:00:58,360 --> 00:00:59,680 Speaker 1: are you a big much A drinker. 18 00:00:59,800 --> 00:01:03,840 Speaker 2: I have had a couple of SIPs ever, and that's it. 19 00:01:04,000 --> 00:01:06,680 Speaker 2: I am too much of a die hard coffee drinker 20 00:01:06,760 --> 00:01:09,680 Speaker 2: to even consider switching allegiances. 21 00:01:09,920 --> 00:01:13,039 Speaker 1: You are one of the biggest die hard coffee drinkers 22 00:01:13,120 --> 00:01:15,640 Speaker 1: I have ever met and for anyone who doesn't know, 23 00:01:15,760 --> 00:01:19,160 Speaker 1: that's actually why our logo is a coffee cup exactly. 24 00:01:19,319 --> 00:01:22,840 Speaker 2: And I mean I'm going through at least four coffees 25 00:01:22,840 --> 00:01:25,319 Speaker 2: a day at the moment, and that's me harving my 26 00:01:25,360 --> 00:01:29,080 Speaker 2: coffee intake from its peak. So I'm way too consumed 27 00:01:29,120 --> 00:01:31,960 Speaker 2: with the coffee to think about Macha. But I've seen 28 00:01:32,160 --> 00:01:34,840 Speaker 2: more and more of it almost every month around me 29 00:01:35,040 --> 00:01:37,000 Speaker 2: here in Australia and around the world. I was in 30 00:01:37,040 --> 00:01:38,960 Speaker 2: the US a couple of months ago and it's everywhere. 31 00:01:39,080 --> 00:01:42,280 Speaker 1: Yeah, it's absolutely massive, and it feels like something I 32 00:01:42,319 --> 00:01:45,479 Speaker 1: think over the past three years, four years, it has 33 00:01:45,560 --> 00:01:49,080 Speaker 1: really just exploded. But for anyone who's not super familiar 34 00:01:49,160 --> 00:01:50,840 Speaker 1: with it, do you want to tell us what exactly 35 00:01:50,960 --> 00:01:52,240 Speaker 1: is marcha? 36 00:01:52,360 --> 00:01:56,520 Speaker 2: So Macha is finally powdered green tea from Japan, or 37 00:01:56,640 --> 00:01:59,640 Speaker 2: a variation of green tea. Now, the key difference from 38 00:01:59,720 --> 00:02:02,800 Speaker 2: reg tea is that you consume the entire leaf in 39 00:02:02,920 --> 00:02:05,840 Speaker 2: powder form, so mucha leaves get crushed up put in 40 00:02:05,880 --> 00:02:07,880 Speaker 2: powder form, you put that powder into hot water and 41 00:02:07,960 --> 00:02:11,360 Speaker 2: drink it. That's different, obviously from putting a tea bag 42 00:02:11,400 --> 00:02:13,919 Speaker 2: into hot water, where you're not actually consuming the tea 43 00:02:14,040 --> 00:02:17,440 Speaker 2: leaves themselves. You throw the tea bag away, and that's 44 00:02:17,480 --> 00:02:21,000 Speaker 2: what gives Mucha its vibrant green color. But also how 45 00:02:21,040 --> 00:02:24,359 Speaker 2: it packs so much caffeine, much more than an average 46 00:02:24,400 --> 00:02:27,079 Speaker 2: cup of tea. If you take one milligram of Mucha 47 00:02:27,160 --> 00:02:30,800 Speaker 2: and one milligram of coffee, there's actually more caffeine in 48 00:02:30,960 --> 00:02:34,880 Speaker 2: Mucha than coffee. But because you need more coffee beans 49 00:02:34,919 --> 00:02:37,440 Speaker 2: to make a shot of coffee, coffee still takes out 50 00:02:37,480 --> 00:02:39,880 Speaker 2: the award for the most caffeine and a cup that 51 00:02:39,919 --> 00:02:42,240 Speaker 2: we would buy from a cafe. But yes, it's this 52 00:02:42,639 --> 00:02:47,120 Speaker 2: specific version of tea almost that you'll recognize on the 53 00:02:47,120 --> 00:02:49,320 Speaker 2: street for its green striking color. 54 00:02:49,680 --> 00:02:51,840 Speaker 1: And I feel like again, like I said, it's really 55 00:02:51,840 --> 00:02:54,440 Speaker 1: exploded in popularity. Maybe it used to be more of 56 00:02:54,480 --> 00:02:57,200 Speaker 1: a niche product than it is now. How big is 57 00:02:57,200 --> 00:02:58,440 Speaker 1: this industry now? 58 00:02:58,880 --> 00:03:01,880 Speaker 2: So let's take it back to twenty twenty three. The 59 00:03:02,200 --> 00:03:06,440 Speaker 2: global Mucha market was worth four point three billion US dollars. 60 00:03:06,520 --> 00:03:09,960 Speaker 2: That is a serious beverage market. It's projected to hit 61 00:03:10,040 --> 00:03:13,400 Speaker 2: seven point four billion US dollars by twenty thirty, so 62 00:03:13,440 --> 00:03:16,239 Speaker 2: we are in the middle of the Mucha explosion. Here 63 00:03:16,639 --> 00:03:19,720 Speaker 2: Australian cafes were charging in twenty twenty three five or 64 00:03:19,760 --> 00:03:22,400 Speaker 2: six dollars for a cup. That's now seven or eight dollars. 65 00:03:22,800 --> 00:03:26,200 Speaker 2: US retail sales have surged eighty six percent in just 66 00:03:26,280 --> 00:03:29,480 Speaker 2: three years, and for Japan it's really big business now. 67 00:03:29,600 --> 00:03:32,800 Speaker 2: So Japan's exports of mucha were worth one point eight 68 00:03:32,880 --> 00:03:36,160 Speaker 2: five billion in twenty twenty four. That went up twenty 69 00:03:36,240 --> 00:03:39,520 Speaker 2: percent from just the previous year. Now more than half 70 00:03:39,600 --> 00:03:42,440 Speaker 2: of Japan's marcher goes to the US, So the US 71 00:03:42,480 --> 00:03:44,920 Speaker 2: are the biggest consumers of mucha. Australia I think comes 72 00:03:44,920 --> 00:03:48,840 Speaker 2: in at about fifth. So it's a huge export market, 73 00:03:49,400 --> 00:03:52,440 Speaker 2: massive demand. But there's some problems in Japan that I'm 74 00:03:52,480 --> 00:03:54,800 Speaker 2: excited to talk about, which is why we're seeing prices 75 00:03:54,840 --> 00:03:55,280 Speaker 2: going up. 76 00:03:55,640 --> 00:03:59,360 Speaker 1: And so there's clearly now this massive demand. Are they 77 00:03:59,480 --> 00:04:03,760 Speaker 1: now just growing more mucher because of how much demand 78 00:04:03,840 --> 00:04:04,200 Speaker 1: there is? 79 00:04:04,440 --> 00:04:08,400 Speaker 2: Yeah, Like if we go back to our fundamentals of economics, 80 00:04:08,440 --> 00:04:10,760 Speaker 2: if people want more of something, you should just make 81 00:04:10,800 --> 00:04:12,640 Speaker 2: more of it and then you export it and get 82 00:04:12,680 --> 00:04:16,159 Speaker 2: heaps of money. Yes, But with march it's not that simple. 83 00:04:16,520 --> 00:04:19,520 Speaker 2: So you can't just plant more and solve the problem 84 00:04:19,560 --> 00:04:22,560 Speaker 2: straight away. And I've gone deep. I've gone deep. I've 85 00:04:22,600 --> 00:04:25,640 Speaker 2: boiled myself a nice cup of coffee, and I went 86 00:04:25,680 --> 00:04:29,719 Speaker 2: deep on why this problem is emerging. And there's three 87 00:04:30,000 --> 00:04:31,479 Speaker 2: core issues here, three. 88 00:04:31,360 --> 00:04:33,920 Speaker 1: Core issues as to why you can't just grow more. 89 00:04:33,880 --> 00:04:37,240 Speaker 2: Marcher exactly got it. So the first is time. So 90 00:04:37,520 --> 00:04:42,039 Speaker 2: new mucha tea plantations require five years to reach the 91 00:04:42,120 --> 00:04:45,200 Speaker 2: point where the leaves are ready to harvest and then sell. 92 00:04:45,520 --> 00:04:49,200 Speaker 2: So for much of companies, this translates to this investment 93 00:04:49,240 --> 00:04:51,040 Speaker 2: they need to make now that they have to then 94 00:04:51,120 --> 00:04:53,880 Speaker 2: wait five years to get a return on. That's a 95 00:04:53,920 --> 00:04:56,240 Speaker 2: really long time to waite. They might not have the 96 00:04:56,279 --> 00:04:59,080 Speaker 2: ability to actually sustain a business for five years before 97 00:04:59,120 --> 00:05:03,039 Speaker 2: materializing that crop. And the second problem is labor though, 98 00:05:03,400 --> 00:05:09,040 Speaker 2: and the production process is incredibly intensive. Farmers must place 99 00:05:09,240 --> 00:05:11,760 Speaker 2: the tea plants in shade for three to four weeks 100 00:05:11,760 --> 00:05:14,559 Speaker 2: before harvest to bring out the flavor, so even before 101 00:05:14,560 --> 00:05:17,480 Speaker 2: you harvest them, you have to move them around. After harvesting, 102 00:05:17,680 --> 00:05:21,599 Speaker 2: the leaves are steamed, dried, and deveined. And here's the kicker. 103 00:05:21,880 --> 00:05:25,240 Speaker 2: After all of that process, only fifty percent of the 104 00:05:25,240 --> 00:05:31,039 Speaker 2: original leaf weight becomes usable, much of powder. So because 105 00:05:31,320 --> 00:05:33,680 Speaker 2: of the process of going through that steam, and think 106 00:05:33,680 --> 00:05:37,359 Speaker 2: about steaming broccoli, for example, it shrinks and it comes. 107 00:05:37,279 --> 00:05:38,280 Speaker 1: No what does that? Kale? 108 00:05:38,480 --> 00:05:39,279 Speaker 2: Right? Kale? 109 00:05:39,440 --> 00:05:42,160 Speaker 1: You literally you start with a bunch and you end 110 00:05:42,240 --> 00:05:43,320 Speaker 1: up with a spoonful. 111 00:05:43,600 --> 00:05:45,400 Speaker 2: Right, So you're doing all of this work and you're 112 00:05:45,440 --> 00:05:47,880 Speaker 2: losing half the products. And that brings us to a 113 00:05:47,920 --> 00:05:51,200 Speaker 2: broader issue, and that is that much of farming is 114 00:05:51,480 --> 00:05:55,560 Speaker 2: a craft and it's steeped in tradition and history. But 115 00:05:55,640 --> 00:05:59,240 Speaker 2: with a greater portion of young adults in Japan moving 116 00:05:59,320 --> 00:06:04,039 Speaker 2: away from these agricultural regions and towards the big metropolitan centers, 117 00:06:04,279 --> 00:06:08,040 Speaker 2: there are actually fewer people carrying on the trade. So 118 00:06:08,080 --> 00:06:11,600 Speaker 2: the average mucha grower in Japan is now over seventy 119 00:06:12,040 --> 00:06:14,920 Speaker 2: and that's leading to this labor shortage as well. It's 120 00:06:14,920 --> 00:06:17,480 Speaker 2: a tough job to begin with, it doesn't make as 121 00:06:17,560 --> 00:06:20,919 Speaker 2: much much as you would hope, but actually the number 122 00:06:20,920 --> 00:06:22,880 Speaker 2: of people willing to get into the farming of it 123 00:06:23,000 --> 00:06:23,600 Speaker 2: is going down. 124 00:06:23,760 --> 00:06:27,680 Speaker 1: Interesting, Okay, So the first issue is time, the second 125 00:06:27,720 --> 00:06:31,440 Speaker 1: issue is labor. What's the third issue climate change. 126 00:06:31,640 --> 00:06:34,719 Speaker 2: So over the past few years, key much of farming 127 00:06:34,760 --> 00:06:38,719 Speaker 2: regions in Japan Kyoto is a main center for mucha 128 00:06:39,040 --> 00:06:43,240 Speaker 2: have endured some really serious droughts. Now, according to media reports, 129 00:06:43,360 --> 00:06:46,640 Speaker 2: some farmers have lost between twenty to thirty percent of 130 00:06:46,720 --> 00:06:49,480 Speaker 2: their mucher harvest because of extreme heat. 131 00:06:49,680 --> 00:06:53,359 Speaker 1: Wow. Interesting, I feel like that's a conversation, this intersection 132 00:06:53,440 --> 00:06:57,159 Speaker 1: between climate change and farming or agriculture and other products. 133 00:06:57,279 --> 00:06:58,400 Speaker 2: Yeah, that's a. 134 00:06:58,720 --> 00:07:01,080 Speaker 1: Topic of conversation that has come up many times before 135 00:07:01,120 --> 00:07:01,840 Speaker 1: on this podcast. 136 00:07:01,960 --> 00:07:05,400 Speaker 2: Yeah, and take coffee for example. So prices of coffee 137 00:07:05,400 --> 00:07:07,720 Speaker 2: beans are up as much as seventy eight percent over 138 00:07:07,760 --> 00:07:11,320 Speaker 2: the past three years. Climate experts suggests that by twenty fifty, 139 00:07:11,640 --> 00:07:15,160 Speaker 2: up to half of all current coffee growing land may 140 00:07:15,160 --> 00:07:18,360 Speaker 2: be unsuitable for production because of climate change. Then you've 141 00:07:18,360 --> 00:07:21,320 Speaker 2: got chocolate, which has also had price rises of over 142 00:07:21,360 --> 00:07:23,720 Speaker 2: four hundred percent over the past three years. We've talked 143 00:07:23,720 --> 00:07:27,040 Speaker 2: about that on TDA before, and that's primarily due to 144 00:07:27,080 --> 00:07:31,320 Speaker 2: climate induced disruptions. And even the sacred avocado isn't safe. 145 00:07:31,440 --> 00:07:35,560 Speaker 2: Australian avocado production dipped fifteen percent last year due to 146 00:07:35,640 --> 00:07:36,960 Speaker 2: adverse weather conditions. 147 00:07:37,320 --> 00:07:39,880 Speaker 1: And so do those three issues the time, the labor 148 00:07:39,880 --> 00:07:43,120 Speaker 1: and the climate change. Does that mean that they are 149 00:07:43,160 --> 00:07:44,440 Speaker 1: not growing more much? 150 00:07:44,560 --> 00:07:47,840 Speaker 2: Well, they are actually growing more, but it's still not 151 00:07:47,920 --> 00:07:51,800 Speaker 2: flowing into the market as quickly as the demand necessitates, 152 00:07:52,240 --> 00:07:55,119 Speaker 2: so a number of Japanese farmers who had previously grown 153 00:07:55,160 --> 00:07:59,920 Speaker 2: another variation of tea switching to meet international demand. According 154 00:07:59,920 --> 00:08:04,320 Speaker 2: to the Japanese Tea Production Association, the country now produces 155 00:08:05,000 --> 00:08:08,040 Speaker 2: five and a half thousand tons ish of tensa, which 156 00:08:08,080 --> 00:08:12,000 Speaker 2: is unground mucha leaves in twenty twenty four and that's 157 00:08:12,040 --> 00:08:15,400 Speaker 2: two point seven times the production of the country in 158 00:08:15,440 --> 00:08:16,160 Speaker 2: twenty fourteen. 159 00:08:16,720 --> 00:08:18,560 Speaker 1: I don't know if this is a weird question, but 160 00:08:19,000 --> 00:08:21,880 Speaker 1: can other countries start growing much now? 161 00:08:22,040 --> 00:08:24,600 Speaker 2: It's not a weird question. I did something weird and 162 00:08:24,640 --> 00:08:27,840 Speaker 2: I looked at Google trends around this topic and can 163 00:08:27,880 --> 00:08:30,640 Speaker 2: other countries grow much and can I grow mucha? Or 164 00:08:30,640 --> 00:08:32,800 Speaker 2: actually two of the most two of the most common 165 00:08:32,800 --> 00:08:33,440 Speaker 2: searches here. 166 00:08:33,400 --> 00:08:35,680 Speaker 1: So that could be a new daily product. 167 00:08:35,800 --> 00:08:38,120 Speaker 2: Yeah, it will take five years, which for a while, 168 00:08:38,200 --> 00:08:41,319 Speaker 2: I'll see you there. But they can. They can grow mucha. 169 00:08:41,480 --> 00:08:45,360 Speaker 2: But many argue though that the nuanced traditions and conditions 170 00:08:45,440 --> 00:08:48,920 Speaker 2: required to grow mucha are unique to Japan. A lot 171 00:08:48,960 --> 00:08:51,520 Speaker 2: of people say that when you have much that's grown 172 00:08:51,559 --> 00:08:54,560 Speaker 2: in another country, it tastes different. So it's to do 173 00:08:54,600 --> 00:08:56,760 Speaker 2: with the soil and the conditions and the methods with 174 00:08:56,880 --> 00:09:00,880 Speaker 2: which it's farmed. China is actually the large exporter of 175 00:09:00,960 --> 00:09:04,400 Speaker 2: marcher in the world, so it is in other places 176 00:09:04,600 --> 00:09:06,640 Speaker 2: and it does have an impact on the price. It's 177 00:09:06,760 --> 00:09:09,640 Speaker 2: cheaper to grow it outside of Japan. There was an 178 00:09:09,720 --> 00:09:14,400 Speaker 2: article that interviewed the heeadfmacha dot com, a great url 179 00:09:14,440 --> 00:09:17,720 Speaker 2: to have secured, and he said, what makes Japanese much 180 00:09:17,720 --> 00:09:21,320 Speaker 2: are great is eight hundred years of expertise, the ideal 181 00:09:21,360 --> 00:09:27,000 Speaker 2: geological environmental growing conditions, and perfection of the equipment and process. 182 00:09:27,480 --> 00:09:29,640 Speaker 2: And he went on to say there are regions of 183 00:09:29,720 --> 00:09:33,000 Speaker 2: China that are attempting to produce mucha, However they lack 184 00:09:33,080 --> 00:09:38,040 Speaker 2: the expertise, equipment, soil conditions, and the right tea plant cultivators, 185 00:09:38,600 --> 00:09:41,520 Speaker 2: so the conditions with which great Marcha has grown. 186 00:09:42,000 --> 00:09:45,320 Speaker 1: So what does this mean for people who love their 187 00:09:45,400 --> 00:09:48,719 Speaker 1: daily marcha? Is now starting to sound weird to me, 188 00:09:48,840 --> 00:09:51,080 Speaker 1: but let's keep going with it. What does it mean 189 00:09:51,200 --> 00:09:53,280 Speaker 1: for people who love it, people who want to drink 190 00:09:53,320 --> 00:09:55,520 Speaker 1: it every day? Will the price of it just keep 191 00:09:55,640 --> 00:09:56,319 Speaker 1: going up? 192 00:09:56,520 --> 00:09:58,600 Speaker 2: I think if you actually sit down and look at 193 00:09:58,640 --> 00:10:02,240 Speaker 2: those three factors that we're identified, there's no world in 194 00:10:02,280 --> 00:10:06,160 Speaker 2: which mucha gets cheaper. I mean, from the very existential 195 00:10:06,200 --> 00:10:08,760 Speaker 2: of climate change all the way down to the five 196 00:10:08,840 --> 00:10:12,280 Speaker 2: year delay of planting new crops, every indicator kind of 197 00:10:12,280 --> 00:10:15,160 Speaker 2: suggests that I wouldn't be surprised if this time next 198 00:10:15,280 --> 00:10:18,719 Speaker 2: year we're looking at a ten dollar maucher in Australian cafes. 199 00:10:19,280 --> 00:10:22,679 Speaker 2: If global demand stays at that level, at that price, 200 00:10:22,760 --> 00:10:25,720 Speaker 2: it becomes even more of a lucrative industry. Though, So 201 00:10:26,520 --> 00:10:28,680 Speaker 2: I don't see a world where your mucha gets cheaper. 202 00:10:28,720 --> 00:10:31,760 Speaker 2: I think we might see more people brewing their own 203 00:10:31,840 --> 00:10:34,160 Speaker 2: mucha at home. You can buy it in powdered form 204 00:10:34,240 --> 00:10:36,959 Speaker 2: and not pay for the labor of cafes. That might 205 00:10:37,000 --> 00:10:38,040 Speaker 2: be a way with you. 206 00:10:38,040 --> 00:10:40,760 Speaker 1: You brought a prop into the pod studio. 207 00:10:40,600 --> 00:10:43,839 Speaker 2: So I took this from the kitchen of our coworkers. 208 00:10:44,480 --> 00:10:48,280 Speaker 2: It's ceremonial grade mucha and it's an interesting way to 209 00:10:48,320 --> 00:10:51,080 Speaker 2: describe it there, but it definitely says product of Japan. 210 00:10:51,240 --> 00:10:54,160 Speaker 2: So this is straight from the source, and maybe it's 211 00:10:54,160 --> 00:10:57,000 Speaker 2: a cheaper way to sustain A. Much addiction is to 212 00:10:57,000 --> 00:10:57,960 Speaker 2: start making it at home. 213 00:10:58,240 --> 00:11:00,320 Speaker 1: That would have been a better experience for anyone on 214 00:11:00,400 --> 00:11:03,280 Speaker 1: YouTube versus listening I'm not sure how that audio which 215 00:11:03,400 --> 00:11:03,920 Speaker 1: is which. 216 00:11:03,720 --> 00:11:05,800 Speaker 2: You can do. You can watch us now on YouTube. 217 00:11:05,920 --> 00:11:07,760 Speaker 1: You can watch us on YouTube, follow our channel and 218 00:11:07,800 --> 00:11:08,680 Speaker 1: we do it today. 219 00:11:08,920 --> 00:11:12,240 Speaker 2: It helps us sustain our marcher purchases. 220 00:11:12,720 --> 00:11:16,480 Speaker 1: Well, Sam, thank you for spending your day going deep 221 00:11:16,600 --> 00:11:20,199 Speaker 1: on Marcha and the economics of machaw our mucha correspondent. 222 00:11:20,600 --> 00:11:22,400 Speaker 2: Your absolute pleasure, and thank you. 223 00:11:22,360 --> 00:11:24,720 Speaker 1: So much for listening to this episode of The Daily Os. 224 00:11:24,720 --> 00:11:27,160 Speaker 1: We'll be back this afternoon with your evening headlines, but 225 00:11:27,280 --> 00:11:28,880 Speaker 1: until then, enjoy your matchers. 226 00:11:33,280 --> 00:11:35,600 Speaker 2: My name is Lily Maddon and I'm a proud Dunda 227 00:11:35,840 --> 00:11:40,640 Speaker 2: Bungelung Calcuttin woman from Gadigol Country. The Daily Os acknowledges 228 00:11:40,720 --> 00:11:42,880 Speaker 2: that this podcast is recorded on the lands of the 229 00:11:42,880 --> 00:11:46,440 Speaker 2: Gadigol people and pays respect to all Aboriginal and Torres 230 00:11:46,440 --> 00:11:49,400 Speaker 2: Strait island and nations. We pay our respects to the 231 00:11:49,400 --> 00:11:52,160 Speaker 2: first peoples of these countries, both past and present.