Wingara Ag (ASX:WNR) – an emerging agricultural exporter to Asian markets – is an attractive way to play the long term thematic of Asian demand for Australian agricultural produce. An exporter of Australian oaten hay (a high quality feed type for dairy cows) to customers in China, Japan, South Korea and Taiwan, Wingara is a profitable business ($1.8m EBITDA in FY15) with plans to more than double production in FY17. The export market for oaten hay is being driven by exploding demand in China, which has risen from nil 5 years ago to ~150,000 tonnes last year and looks likely to move to number 2 (behind Japan) in the list of Australia’s largest export markets for oaten hay, driven by China’s burgeoning dairy industry.