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

 


MPI lifts forecasts for dairy, meat, forestry exports

MPI lifts forecasts for dairy, meat, forestry exports on Chinese demand

Feb. 19 (BusinessDesk) - The Ministry for Primary Industries has raised its forecasts for exports of dairy products, meat and forestry, citing growing demand and limited supplies of milk, lower US and European beef production and high prices for logs.

The ministry raised its forecast for total primary sector exports in the year ending June 30 by 15.6 percent compared to its estimates last June to $36.5 billion and its 2015 forecast by about 8 percent to $35.7 billion.

The revisions are led by dairy products, which are seen generating $16.69 billion in the current year, up $2.7 billion, or 19.5 percent from its original forecasts last June. The forecast for meat, pelts and wool was lifted by $1.2 billion, or 22 percent, to $6.6 billion and forestry is revised up by $820 million, or 19 percent, to $5.1 billion.

“New Zealand exporters are able to direct product into emerging markets to meet rapidly growing demand,” the ministry said in the report. “This is predominantly increased volume of exports to China.”

At the same time, “supply constraints among our major export competitors (are) causing rising prices on international markets. This is largely due to US and EU diminished dairy and beef production.”

More modest revisions include a $109 million, or 3.4 percent, increase in horticulture exports to about $3.3 billion for the year ending June 30 and a $52 million, or 3.4 percent gain to $1.58 billion for seafood.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news