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TOTAL AGRICULTURAL export earnings for 2014-15 will be down 9.5%, warns the Ministry of Primary Industries.
Unsurprisingly, dairy export revenue will be down this year, but the drop will be partly offset by better-than-expected growth in other primary sectors, according to revised forecasts from MPI.
MPI released today a mid-year update on forecasts from its Situation and Outlook for Primary Industries 2014 (SOPI 2014), which was released in June.
The update revises the forecast for total primary industry export earnings to $34.6 billion for July 2014 to July 2015, a drop of 9.5% from record earnings of $38.2 billion in the previous year.
The main reason for the fall is a $4.2 billion drop in dairy export revenue, due largely to reduced demand as a result of Russian trade sanctions and high inventory levels in China.
Off-setting the dairy fall, market conditions for beef are likely to be strong for the next two years, says Jarred Mair, director sector policy.
"A combination of strong US demand and drought conditions in Australia mean that we have seen record lean beef prices this year.
MPI forecasts that meat and wool export revenue will rise by $518 million this year.
Mair also expects to see increases in export revenue from seafood, horticulture, arable, live animals, other agricultural and food products.
"We're seeing improved demand for New Zealand's top earning seafoods such as rock lobster, mussels and salmon.
"Another positive is Psa disease has had less impact on the Gold3 kiwifruit cultivar than initially thought, which has pushed up export volumes," says Mair.
Forestry sector export revenues are expected to return to growth in 2015-14 as demand for logs increases.
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A Rangitikei farmer has been indefinitely banned from owning animals and sentenced to serve 9 months and 3 weeks’ home detention following animal welfare failures that caused the death of more than 140 animals.
Major New Zealand fresh produce grower is tapping AI to manage weeds on one of its farms.
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Penske Australia & New Zealand has appointed Stephen Kelly as the general manager of its Penske NZ operations, effective immediately In this role he will oversee all NZ branch operations, including energy solutions, mining, commercial vehicles, defence, marine, and rail, while continuing to be based at Penske’s Christchurch branch.
According to the latest Federated Farmers-Rabobank Farm Remuneration Report, released today, farm worker pay growth has levelled off after a post-Covid period of rapid growth.
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The Conservative Party warns that the upcoming free trade agreement between New Zealand and India may prioritise increased labour mobility while offering limited reassurance for New Zealand workers.
Southland District Council says it is actively managing the impacts of the current fuel supply challenges to ensure essential services across the district continue to operate safely and reliably.
A large crowd turned out for the last of the field days of the three finalists in this years Ahuwhenua Trophy to determine the top Maori horticulture entity in Aotearoa New Zealand
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