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

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news