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Primary sector exports for 2012 show slight increase

Primary sector exports for 2012 show slight increase

17 October 2012

Primary sector export revenue figures for the final quarter to June 2012 are mixed. While there was a decline of 5.8 percent for the quarter, there was actually an overall increase for the year of 1.3 percent.

The Ministry for Primary Industries (MPI) today released its final quarterly report for the year to June 2012. New Zealand’s primary sector export revenue experienced a decline of 5.8 percent in the June quarter (compared with the previous June quarter) to $8,771 million. At the same time there was a production-driven increase of 1.3 percent for the year ended June 2012 to $32,119 million, due to favourable climatic conditions.

MPI reports export revenues for main meat products were down in the June quarter - mostly because of lower export prices from weaker international demand and a build up in meat stocks in New Zealand, particularly for lamb. Lamb production however, was up 5.9 percent in the year ended June 2012.Total meat export revenue was down 14.4 percent to $1,601 million.

For the most part lower dairy prices offset increased export volumes, resulting in a 5.6 percent decline in dairy export revenue to $3,351 million in the June quarter. For the 2011-12 season (year ended June), milk solids’ production increased 11.4 percent to 1,685,000 tonnes.

Horticultural exports declined one percent to $1,267 million in the June quarter. An increase in exports of kiwifruit and wine was more than offset by declines in pipfruit, other fresh and processed fruit and vegetable exports. However, horticulture revenue for the year ended June 2012 was up 5.3 percent on the previous year.

Although export revenue for total fisheries was down 4.2 percent to $399 million in the June quarter, this was mainly due to lower export volumes for most seafood categories. International demand and prices for seafood however, remains strong.

Forest product export revenue declined 5.7 percent to $1,131 million in the June quarter, largely due to the impact of lower prices of logs and sawn timber exceeding the impact of increased export volumes. Favourable weather and the recovery of wind-thrown logs from summer storms in the North Island encouraged a record quarterly high of 7.4 million cubic metres for roundwood removals.

For further information go to the full report in the Publications section (under the News and Resources menu) of the MPI website.

ENDS

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