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Emma Higgins, Rabobank
A bonus for the country’s primary exports with the final figure for the end of June hitting $53.3 million – $1.1 billion more than projected.
Agriculture Minister Damien O’Connor described the result as an outstanding testament to the ongoing efforts of our farmers, growers, foresters, fishers and processors. The June quarter saw a strong finish with meat and dairy leading the charge bringing in an additional $1.1 billion to the economy.
O’Connor says the food and fibre sector continues to head New Zealand’s export-led economic recovery. He says the data also showed seafood and horticulture exports surpassing the previous year’s exports.
“Food and fibre exports made up 81.4% of New Zealand’s total exports in the year to 30 June 2022. In the two years since Covid-19 collectively, the sector has done a terrific job keeping the wheels of the economy turning.”
Meanwhile, Rabobank’s Emma Higgins says the result is certainly worth celebrating. She says it reflects the fact that in the last year, and in particular the last quarter, there has been really strong demand from our key markets – especially for sheep and beef, and also for dairy until recently.
Higgins says the demand for NZ products has seen record prices being paid for some of our primary exports. However, she warns that the situation may change in the next 12-18 months when some of the ramifications of the present geopolitical situation kick in.
Higgins adds that the effects inflation could be another factor to watch for in the future.
Rabobank is launching the 2025 Rabobank Good Deeds Competition, giving rural community groups across New Zealand a chance to win a day’s labour support and $5,000 in funding for their nominated community project.
More than 70 farmers from across the North and South Islands recently spent a dayand- a-half learning new business management and planning skills at Rabobank Ag Pathways Programmes held in Invercargill, Ashburton and Hawera.
A new Indonesian school milk programme is expected to significantly increase the country's total dairy consumption, creating opportunities for New Zealand and other global dairy players.
Twenty rural community hubs across New Zealand will receive $5,000 to upgrade their facilities having been selected as the winners of Rabobank's Community Hub Competition.
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
Reuters reports that giant food company Wilmar Group has announced it had handed over 11.8 trillion rupiah (US$725 million) to Indonesia's Attorney General's Office as a "security deposit" in relation to a case in court about alleged misconduct in obtaining palm oil export permits.
DairyNZ is celebrating 60 years of the Economic Survey, reflecting on the evolution of New Zealand's dairy sector over time.
As electricity prices soar, farmers appear to be looking for alternative energy sources.
There is an appeal to New Zealanders to buy local citrus fruit.
Avocado growers are reporting a successful season, but some are struggling to keep their operations afloat following years of bad weather.
It's time to start talking up science again, especially as a career for young people. That's one of the key messages from the Prime Minister's new chief science advisor, Dr John Roche.
