Export prices set to remain elevated
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
The value of goods exports were up 2.5% to $4 billion for February this year but some main commodities fell.
Beef, lamb, and milk powder were just some of the falling commodities; as a result the rise was limited, says Statistics New Zealand.
The 2.5% rise equated to $96 million more than February 2015.
This month saw rises for a range of commodities, including fish, crustaceans, and molluscs (up 23%), and wine (up 34%), international statistics senior manager Stuart Jones says.
But other primary produce exports had mixed results. Milk fats (including butter) and cheese both had increases in value and quantity while other components of dairy, including milk powder, fell in value (quantity showed little change). Beef and lamb exports both fell in value, with the quantity of beef falling 7.8% and the quantity of lamb rising 4.6%.
Imports rose $108 million (2.8%) to $3.9 billion in February 2016, compared with February 2015. Consumption goods led the rise, up $121 million (12%), with the largest increases being pharmaceuticals, toys, and sporting equipment.
In February 2016 there was a goods trade surplus of $72 million (1.8% exports).
Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.
OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.
AgriZeroNZ has entered a new partnership with Britain's national innovation agency, Innovate UK.
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.
As the dairy industry prepares to celebrate its top achievers at an awards night this Saturday, attendees are being warned to be aware of protests planned outside the venue – Baypark Arena, Mount Mauganaui.
Beef + Lamb New Zealand (BLNZ) says the release of New Zealand's latest Greenhouse Gas Inventory clearly shows agriculture is playing its part in emissions reductions and there is no need for a price on agricultural emissions.
OPINION: The good fight against "banking wokery" continues with a draft bill to scrap the red tape forcing banks and…
OPINION: Despite the volatility created by the shoot-from-the-hip trade tariff 'stratefy' being deployed by the new state tenants in the…