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

 


4.9 billion reasons why our primary industries rock

An expected $4.9 billion surge in New Zealand's primary exports confirms why CNBC labelled New Zealand a 'rock star' economy. The announcement came at the Riddet Institute's Agri-Food Summit.

"It is significant that Riddet Institute's co-director, Professor Paul Moughan, said New Zealand has great farmers, great processor/marketers and great scientists," says Bruce Wills, Federated Farmers president.

"Professor Moughan said we stand on the cusp of a revolution and we agree. We now feed an estimated 40 million people around the world and the world is crying out for our primary exports.

"Increasing global prosperity is arguably behind the Ministry for Primary Industries now forecasting an expected $4.9 billion uplift in our primary exports. It is now expected primary exports for 2013/14 will be worth $36.4 billion.

"This $4.9 billion surge is being led by the pastoral sector with dairy up $2.7 billion but meat and fibre exports are estimated to be up $1.2 billion. This will be welcome news to New Zealand's number two merchandise export.

"New Zealand is on track to double primary exports by 2025 to $64 billion so long as we stick to a sensible and sustainable mix of policies.

"Between now and 2025, $18 billion of this future growth is expected to come from water storage, irrigation and aquaculture. New Zealand does not lack water as in Australia just the means to store it in times of plenty, to use it in times of shortage.

"Of that $18bn uplift, a fair proportion is expected to come from free trade agreements, like the Trans Pacific Partnership. Having heard from the Director of India's National Dairy Research Institute, Professor Srivastava, I would hope one with India too.

"This story of better export performance benefits every New Zealander. You could say everyone is a farmer as it’s only a matter of degree. It also underscores the need for the science/research investment.

"Lifting every farmer into the top quartile of performance will be worth $3 billion by 2025 while bringing Maori land into full production is estimated to be worth $8 billion generating 3,500 new jobs.

"Hearing the MPI's latest forecast and presentations at the Riddet Institute's Agri-Food Summit I firmly believe we can double primary exports by 2025. If we can win trade access we may actually exceed it," Mr Wills concluded.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news