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

 


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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news