New Zealand’s food and fibre export to reach a record $52.2 billion & More News Here

Export income from New Zealand’s food and fibre sector is anticipated to reach a record $52.2 billion within the yr to 30 June 2022, Primary Industries Ministers Damien O’Connor, David Parker and Stuart Nash introduced as we speak.

“The latest Situation and Outlook for Primary Industries (SOPI) reports that this will be the first time we’ve hit more than $50 billion in food and fibre exports, and an increase of almost 10 per cent ($4.6 billion) on the previous year,” Agriculture Minister Damien O’Connor mentioned.

“This is a large outcome for the sector as farmers, growers and others within the provide chains who play such a vital function in our financial system. They have continued to ship high quality merchandise for Kiwis and abroad shoppers whereas navigating international disruption and uncertainty.

“Our markets abroad are demanding high-quality products that are made with care, and this report indicates our exporters are responding to these market signals. To that end, the Government is investing to support farmers and growers to deliver food and fibre with low emissions and high sustainability, which will provide us economic security.”

Damien O’Connor mentioned the SOPI, launched by the Ministry of Primary Industries (MPI), forecast vital development throughout nearly all of our food and fibre exports.

“Dairy export revenue is on track to reach a record high of $21.6 billion in the year to 30 June 2022, which is a 13 per cent increase on the previous year,” Damien O’Connor mentioned.

“Meat and wool export income can be anticipated to see a wholesome improve to $12.2 billion – an 18 per cent rise on 2021.

“Horticulture sector revenue continues to grow and is set to hit $6.7 billion in exports with our kiwifruit and wine performing well,” Damien O’Connor mentioned.

Oceans and Fisheries Minister David Parker mentioned seafood exports continued to get well from disruptions to food service internationally.

“Our seafood exports are expected to hit $1.9 billion in the year to 30 June 2022, an increase of 9 per cent on the previous year,” David Parker mentioned.

“We’re seeing good progress within the export restoration of our seafood sector, and export income is anticipated to be shut to pre-COVID-19 ranges.

“This most recent forecast should give the seafood sector reason to be optimistic as it continues to provide high quality products into international markets where there is tight supply.”

Forestry Minister Stuart Nash mentioned decrease export volumes triggered by international freight congestion affected export income for New Zealand logs and forest merchandise within the yr to 30 June 2022.

“Exports of our logs and forest products is expected to dip slightly on the previous year, reaching $6.2 billion by 30 June 2022, a small drop of 4 per cent. However, we expect demand to pick up from next year as infrastructure projects resume and freight issues ease,” Stuart Nash mentioned.

“I want to acknowledge the forestry sector’s commitment and hard work in keeping their operations running over the course of a difficult year. The sector has impressively addressed the challenges that have arisen due COVID-19, but forecasts show brighter days are ahead.”

Associate Minister of Agriculture Meka Whaitiri mentioned the most recent SOPI indicated the Government’s sector roadmap Fit for a Better World was taking part in a key function in boosting productiveness, sustainability and significant and rewarding jobs.

“We are seeing Māori agribusiness playing a vital role in Aotearoa’s food and fibre sector, contributing to the social and economic development of Aotearoa, and also as significant contributors to New Zealand’s export success,” Meka Whaitiri mentioned.

Damien O’Connor mentioned trying additional forward there was good trigger for optimism.

“The SOPI forecasts export revenue will continue to grow to $56.8 billion in the year to 30 June 2026,” Damien O’Connor mentioned.

“Supporting that is the superb momentum of the Government’s commerce agenda, which has seen us signal our historic free commerce settlement (FTA) with the UK, improve our China FTA and progress negotiations on an EU FTA.

“We needs to be optimistic for ongoing success, whereas acknowledging the challenges of the final six months, reminiscent of provide chain disruption and rising prices of inputs throughout all sectors of manufacturing, pushed largely by excessive worldwide oil and fertiliser costs.

“The basis for my optimism is our primary sector’s strong history of innovating and adapting to changing markets. It’s what has made us world-leaders and will keep us as world-leaders,” Damien O’Connor mentioned.

(With Inputs from New Zealand Government Press Release)

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