Its all about ag exports
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Dairy export volumes rose 32% but prices were down 13% in the September 2012 quarter, says Statistics New Zealand.
"Dairy export volumes are at record levels, after adjusting for seasonal effects," Statistics NZ prices manager Chris Pike says. "Dairy values remain at high levels, even though export prices have fallen for five consecutive quarters."
Dairy products made the largest contribution to a 9.7% rise in seasonally adjusted export volumes. Meat export volumes rose 15%. Import volumes rose 0.7% led by intermediate and capital goods.
Export prices fell 6.3%, led by dairy prices (down 13%), while import prices fell 3.3%, led by a fall in petroleum and petroleum product prices (down 13%).
In the September 2012 quarter, the terms of trade fell 3.2%. A fall in the terms of trade means that fewer imports can be funded by the same quantity of exported goods. The terms of trade are 9.1% lower than a year ago.
The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.
AgriZeroNZ, a joint venture fast-tracking emissions reduction tools for farmers, is pouring $5 million in a biotech company to develop a low emissions farm pasture with increased productivity gains.
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Te Awamutu dairy farmers Doug, Penny, Josh and Bayley Storey have planted more than 25,000 native trees on the family farm, adding to a generations-old native forest.
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