Damien O’Connor: NZ united on global trade
When it comes to international trade, politicians from all sides of the aisle are united, says Labour's trade spokesman Damien O'Connor.
Agriculture Minister Damien O’Connor is praising the dairy sector’s contribution to New Zealand’s economy.
Speaking at the opening of Dairy Business 360 Conference in Hamilton this morning, O’Connor noted that dairy farmers showed “incredible work ethic and resistance to get the job done”.
He says the effort of the dairy sector is helping to keep the wheel of the country’s economy turning.
The food and fibre sector remains the powerhouse of NZ economy.
For year ending June 30, 2022, the food and fibre sector export revenue hit a record $53.3 billion, representing 11.1% of the country’s GDP.
He says dairy made up nearly half of that food and fibre export revenue with $22b.
“This is an impressive performance by the dairy sector in the face of challenges from Covid-19 to the Russia-Ukraine conflict and extreme weather conditions,” he says.
According to the latest Federated Farmers banking survey, farmers are more satisfied with their bank and less under pressure, however, the sector is well short of confidence levels seen last decade.
Farmer confidence has taken a slight dip according to the final Rabobank rural confidence survey for the year.
Former Agriculture Minister and Otaki farmer Nathan Guy has been appointed New Zealand’s Special Agricultural Trade Envoy (SATE).
Alliance Group has commissioned a new heat pump system at its Mataura processing plant in Southland.
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Meat processors are hopeful that the additional 15% tariff on lamb exports to the US will also come off.