Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Primary Products and Petrol Lift Wholesale Sales

Primary Products and Petrol Lift Wholesale Sales

Wholesale sales increased by 1.5 per cent in the March 2000 quarter according to figures released today by Statistics New Zealand. The trend in wholesaling sales activity has now been increasing since September of 1998.

Increases in the primary product food and petroleum industries provided for over 90 per cent of the March quarter growth. The primary food industry shows signs of a strong recovery following a fall in sales in 1998 and early 1999. The industry has benefited from a good growing season, favourable currency movements, and a pick-up in demand from some key markets. However sales have only recently surpassed the values achieved during 1997 and 1998 prior to the drought induced contraction in the sector. Strong beef and sheep meat prices and steady overseas demand for these products have influenced sales this quarter. Fruit exports also increased, while dairy exports remained steady.

A further rise in crude oil prices boosted petroleum sales again this quarter, with sales values now 38.9 per cent higher than a year ago. Although the recent upturn in economic activity does suggest some increase in volumes, the rise has been primarily price driven. While the increase in petroleum sales has boosted wholesale activity, it is not indicative of real economic growth. Producers Price Index (PPI) releases have drawn reference to the steady rise in input costs for businesses, while higher petrol prices for motorists lower the disposable income households have available to buy other products.

Ian Ewing

Deputy Government Statistician
END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra (And Dairy NZ)'s Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO: