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

 


Primary Industry’s outlook good

Primary Industry’s outlook good


Federated Farmers believes the ‘2014 Situation and Outlook for Primary Industries’, released by the Ministry for Primary Industries, shows a promising future for the New Zealand economy thanks to kiwi farmers.

“This report shows an increase of 16.3 percent in primary sector exports, to $37.7b on the previous year, which translates to increased farmgate incomes of 22 percent and an increase in off farm spending of 11 percent,” says Bruce Wills, Federated Farmers National President.

“These statistics remind us of the importance of exports to New Zealand, in particular the impact on farmgate incomes and spending on farm inputs, which has a direct influence on rural and provincial economies.

“The star performers have been the dairy industry, leading with a 31 percent increase and the forestry industry, following with a 14.5 percent increase. However, the lower dairy and forestry commodity prices forecast for 2014/15 will see our exports dropping by 4.8 percent.

“With 2014/15 set to be more of a challenge, we need a business-friendly environment, with policies supportive of agriculture rather than policies that will harm it. Farmers are set to pay a whopping $2.7 billion in bank interest over the coming year as interest rates rise, so harmful policies like a carbon tax, resource rentals tax on water, and a capital gains tax would only further cripple our productivity.

“The good news is that we had a bumper 2013/14 year and exports should resume their upward progress in the outward years of 2017/18.

“The Reserve Bank’s increase in the OCR comes as no surprise but it does run the risk of underpinning the high exchange rate and delaying its necessary correction to reflect the lower commodity prices. Farmers will be hoping the Reserve Bank is right and that the exchange rate will in fact fall, but if it doesn’t then it might be time for a pause in the OCR. Otherwise we could see a sharper reduction in exports and farmgate incomes,” concluded Mr Wills.
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news