increase font size
MEAT, FORESTRY and dairy all contributed to seasonally adjusted export volumes falling 5.3% in the June quarter, while import volumes rose 3.6%, Statistics New Zealand says.
"Export volumes recorded their largest fall since the March 2008 quarter," international statistics manager Jason Attewell says. "This was due to falls from high levels in key primary products."
Seasonally adjusted meat export volumes fell 8.3%, forestry volumes fell 8.3%, and dairy volumes fell 2%.
Seasonally adjusted import volumes rose 3.6%, continuing a series of rises that began at the start of 2013. Capital goods led the rise this quarter, accompanied by rises in other key import groupings.
The trend for import volumes has been rising for seven consecutive quarters – by a total of 19%.
The terms of trade for goods rose 0.3% due to export prices falling less than import prices. "This is the lowest of six consecutive quarterly rises for the terms of trade, which is now 1.3% below its all-time high in the June 1973 quarter," Attewell says/
Terms of trade is a measure of the purchasing power of New Zealand's exports abroad. An increase means New Zealand can buy more imports for the same amount of exports.
A strengthening New Zealand dollar had a downward influence on import and export prices.
The price of exported goods fell 2%, with dairy prices falling 4.3% and forestry product prices falling 6.5% (influenced by a large fall in log prices).
Prices for imported goods fell 2.3%.. The fall was broad based. Petroleum and petroleum products (down 3.9%, due to lower prices for crude oil) contributed the most to the overall fall.
The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.
A Hawke's Bay apple orchardist supports the Government's objective of doubling exports but says this won't happen in the horticulture sector unless there's a change in the process for bringing new plant material into the country.
Additional reductions to costs for forest owners in the Emissions Trading Scheme Registry (ETS) have been announced by the Government.
A New Zealand-first native tree study has highlighted the Bioeconomy Science Institute's position as a forestry research leader.
Horticulture New Zealand (HortNZ) says a new report projects strong export growth for New Zealand's horticulture sector highlights the industry's increasing contribution to the national economy.
When American retail giant Cosco came to audit Open Country Dairy’s new butter plant at the Waharoa site and give the green light to supply their American stores, they allowed themselves a week for the exercise.
While the District Field Days brought with it a welcome dose of sunshine, it also attracted a significant cohort of sitting members from the Beehive – as one might expect in an election year.
Irish Minister of State of Agriculture, Noel Grealish was in New Zealand recently for an official visit.
While not all sibling rivalries come to blows, one headline event at the recent New Zealand Rural Games held in Palmerston North certainly did, when reigning World Champion Jack Jordan was denied the opportunity of defending his world title in Europe later this year, after being beaten by his big brother’s superior axle blows, at the Stihl Timbersports Nationals.
AgriZeroNZ has invested $5.1 million in Australian company Rumin8 to accelerate development of its methane-reducing products for cattle and bring them to New Zealand.
Farmers want more direct, accurate information about both fuel and fertiliser supply.
A bull on a freight plane sounds like the start of a joke, but for Ian Bryant, it is a fond memory of days gone by.
OPINION: If you ask this old mutt, the choice at the next election isn't shaping up as a contest of…
OPINION: A mate of yours says we're long overdue for a reckoning on what value farmers really get for the…
