Red meat exports slump, thanks to China
Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.
The result is $1.1 billion above the $52.2 billion forecast in this year’s Situation and Outlook for Primary Industries (SOPI) report, which predicted the primary sector continuing to make a profit despite a challenging year.
Agriculture Minister Damien O’Connor says the result is a testament to the efforts of New Zealand’s farmers, growers, foresters, fishers and processors.
“The June quarter saw a strong finish to what we’d already forecast to be a record year for exports,” O’Connor says. “Meat and dairy led the charge in bringing an additional $1.1 billion into our economy.”
He says the data also showed seafood and horticulture exports surpassing the 2021 exports.
“Food and fibre exports made up 81.4 percent of New Zealand’s total exports in the year to 30 June 2022,” O’Connor says.
“In the two years since COVID-19 came knocking on our doors, I believe that, collectively, we’ve done a terrific job keeping the wheels of the economy turning.”
He says the sector has also responded to other challenges, like the current weather events at the top of the South Island, which O’Connor says he is watching closely.
“I’d like to acknowledge the sectors’ ongoing efforts and congratulate them on a job well done. It’s helping provide New Zealand’s economic security in challenging times.”
