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

 

Export Surplus: Farming Has Done It Again

Export Surplus: Farming Has Done It Again - Farm Economist

Those pushing for New Zealand to become a “knowledge economy” should realise that there is only one industry that can maintain the country’s standard of living – farming. That’s the view of Waikato farm economist and finance specialist Donald Fraser.

Fraser believes that despite all the high tech hype surrounding so-called knowledge-based industries, only agriculture has the economic grunt to sustain the country for the foreseeable future.

“For the past 15 years successive governments have sold off assets to pay our way in the world, and farming suffered as a result. Now that we have run out of assets, farming has once again emerged as the only industry that can pull the economy out of the mire and keep it going”, he says.

Fraser points to figures just released showing that for the first time in seven years New Zealand has a surplus of export receipts over the cost of imports, a result driven by agricultural trade and a modest level of technology.

“In all likelihood the current firm prices for farm exports will continue, and this will cushion the economy from the downturn overseas”, he says.

“Farmers deserve recognition from the government for their crucial role in creating the wealth of the country. Wellington should do all in its power to make sure that farm business can continue without being hindered by legislation locally or trade restrictions in other countries”.

“Farming is our most successful industry. If farmers don’t continue to prosper, the whole country will suffer”, says Fraser.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Ground Rules: Government Moves To Protect Best Growing Land

“Continuing to grow food in the volumes and quality we have come to expect depends on the availability of land and the quality of the soil. Once productive land is built on, we can’t use it for food production, which is why we need to act now.” More>>

ALSO:

Royal Society: Calls For Overhaul Of Gene-Technology Regulations

An expert panel considering the implications of new technologies that allow much more controlled and precise ‘editing’ of genes, has concluded it’s time for an overhaul of the regulations and that there’s an urgent need for wide discussion and debate about gene editing... More>>

ALSO:

Retail: Card Spending Dips In July

Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. More>>

ALSO:

Product Stewardship: Govt Takes More Action To Reduce Waste

The Government is proposing a new way to deal with environmentally harmful products before they become waste, including plastic packing and bottles, as part of a wider plan to reduce the amount of rubbish ending up in landfills. More>>

ALSO:

Earnings Update: Fonterra Sees Up To $675m Loss On Writedowns

“While the Co-op’s FY19 underlying earnings range is within the current guidance of 10-15 cents per share, when you take into consideration these likely write-downs, we expect to make a reported loss of $590-675 million this year, which is a 37 to 42 cent loss per share." More>>

ALSO: