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

 


Favourable season boosts September quarter primary exports

21 December 2012

Favourable season boosts September quarter primary exports


Higher volumes of exports resulting from last year’s favourable production season have boosted primary sector revenue this past quarter.

The Ministry for Primary Industries (MPI) today released its report of production and trade statistics for the September 2012 quarter.

Primary sector export revenue at $7.12 billion for the quarter was up 4.7 percent on the previous September quarter, and at $32.43 billion for the year to September was up 0.5 percent on the previous year.

“This was despite difficult trading conditions and a stronger New Zealand dollar,” says Chris Jones, MPI’s Economic Information and Analysis Manager.

“The result was mostly driven by higher meat and dairy volumes, as exporters sought to reduce stocks generated by the bumper production season.”

Dairy export revenue was up 10.4 percent for the quarter, due to a 36 percent volume increase – largely from the 2011/12 season.

Meat export revenue increased 1.6 percent to $1.04 billion for the September quarter, however the higher volumes were moderated by lower prices for lamb, sheepmeat and venison.

Also, seafood revenue was up 4.6 percent to $385 million for the quarter, due to a 6.1 percent volume increase.

Higher export revenues from sawn timber and panel products were not enough to counter weaker revenues from other forestry products.

A look at longer term trends shows that over the decade since September 2003, the dairy industry’s contribution to total primary sector export revenue has increased from 30 percent to 43 percent in 2012.

For more information, go to the full quarterly report in the Publications section of the MPI website. (Note this is a searchable database, under Publications in the “News and Resources” section.)

END

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news