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

 


Dairy cash cow for regional economies

MEDIA RELEASE
Monday, 14 July 2014

For immediate release

Dairy cash cow for regional economies

New Zealand’s regional economies are milking the dairy industry, taking $14.3 billion in total in 2013-14 – a 40 percent increase in earnings – DairyNZ figures show.

The regions earned about $14.3 billion from dairy farms in 2013-2014, taking the lion’s share of national dairy earnings. In total, it’s estimated the New Zealand economy earned $17.6 billion from dairy exports that year.

DairyNZ’s chief executive Tim Mackle says its recent Economic Survey shows the industry contributed about 40 percent more than the previous year and injected much of that back into growth, farm spending and jobs.

“Our latest survey shows the financial value that dairy farmers bring into each province, helping grow residents’ wealth even if they are not dairy farming themselves,” Dr Mackle says.

Dairy’s boost to rural economies is consistent with the national trend. National dairy export revenue soared by 30 percent to 17.6 billion in 2013-14, a Situation and Outlook 2014 report from the Ministry for Primary Industries (MPI) says.

New Zealand’s dairy export revenue is expected to rise in the future, reaching $18.4 billion by the year ending 30 June 2018, based on a modest rise in domestic production, increasing international dairy prices, and a depreciating NZD, the MPI report says.

DairyNZ’s 2013-14 estimations shows New Zealand’s top provincial performer in dairying is Waikato, retaining its top spot from the previous year and earning $3.8 billion, followed by Canterbury with $2.77 billion, Southland with $1.72 billion then Taranaki with $1.44 billion.

-ENDS-


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:


Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news