Wednesday, 12 April 2017 13:55

Primary exports on the increase

Written by 
Nathan Guy. Nathan Guy.

Primary Industries Minister Nathan Guy is welcoming new figures forecasting that primary exports will reach $37.5 billion for the year ending June 2017.

The forecast is up $0.8 billion on the previous December forecast.

“This is the first time MPI has produced a quarterly update of its Situation Outlook for Primary Industries (SOPI) which will give us a more accurate picture during the year,” says Guy. 

Next year overall primary sector exports are expected to grow by 9.7% to $41b.

Guy says it shows New Zealand has a strong, diversified primary sector and shows forestry and horticulture doing well. And it’s pleasing to see dairy rebounding after several tough seasons.

“This year is likely to be more challenging for the sheep meat sector with market volatility and the UK’s exchange rate fluctuations.

“So the government is strongly supporting the meat industry through the Primary Growth Partnership, with about half the funding going to red meat projects. Access to China for chilled meat is also a major positive, along with renegotiated access to Iran.”

The SOPI report was released by Guy at the Te Hono National Summit for primary industries leaders in Christchurch last week.

 

More like this

Farmers feel like lepers

Farmers having trouble selling stock because of fears over Mycoplasma bovis are unlikely to see any compensation unless they are directly affected by Ministry for Primary Industries controls.

 
 

» Latest Print Issues Online

Milking It

Fewer cows, more Canadians

Canada now has fewer cows than at any time since the early 1990s and, say analysts, it’s partially millennials’ fault.

P... p... pea milk

They say it’s never been easier to avoid dairy, thanks to an ever-expanding array of plant-based ‘milk’ -- rice, soy,…

 

» Connect with Dairy News

 
 

Markets

South Island wool sale eases

South Island wool sale eases

The 4700 bales on offer saw a 74% clearance with mixed results, however all prices paid locally are still above…

Wool continues to ease

Wool continues to ease

The 7250 bales of North Island wool on offer saw a 72% clearance with most types easing further.