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

 

Forecast surge in primary exports a huge boon for Maori

Media release from Federation of Maori Authorities

Forecast surge in value of primary sector exports a huge boon for Maori Agri-business - Federation

21 February, 2014

A forecast 15% increase in earnings from primary sector exports to June 30 this year is a huge boon for the Maori agri-business sector, the Federation of Maori Authorities says.

The Ministry of Primary Industries announced this week that based on trends it believed there would be an additional $4.9 billion in earnings from agriculture, forestry and fishing exports in the year to June 30, based primarily on intensifying demand for dairy products, meat, pelts, wool, wood and seafood from China. The revised annual forecast is now $36.4 billion.

“That’s great news for Maori producers,” Federation of Maori Authorities’ CEO TeHoripo Karaitiana said. “They can now count on banking a lot more this year, and having a lot more financial discretion in their planning for the next few years.”

The revised forecast was announced by the Minister of Primary Industries, the Rt Hon Nathan Guy, at a Riddet Institute event in Parliament on Wednesday. He commented specifically about the significant increases in production in Maori agri-business in announcing the forecast.

The Riddet Institute commissioned report “A Call to Arms”, published in 2012, showed that Maori controlled 15% of national dairy production, 18-20% of beef and lamb production and 50% of all seafood production.

“That’s a lot of money flowing back into the coffers of Maori land-based trusts and incorporations,” Karaitiana said.

The Federation’s membership comprises a large proportion of Maori sheep, beef and dairy producers, as well as forestry owners – key benefactors from the upswing in demand from China.

Karaitiana said Federation’s key sector groupings now needed to think about establishing a more definitive export presence.

“The focus in recent years has been lifting the level and quality of production to the farm and orchard gate,” he said. “We now need to look at how we are represented beyond the farm gate and even further afield – including off shore. Through hard work we have achieved both scale and critical mass to be taken seriously as exporters.”

Karaitiana said what sets Maori producers apart “is our optimism and aspiration to grow”.

“Maori are expanding rapidly in dairy in particular and the pay-out rate is very good. Sectors growing to a lesser degree are horticulture, primarily Kiwifruit, and red meat. Fisheries are relatively stable. And all of this is set against a backdrop of a relatively high exchange rate.

“All this indicates a stronger economy but most importantly a growing business confidence. People are confident, to not only grow and expand but also to look further up value chains and at ways to innovate and differentiate.”

Karaitiana said there would be more evidence of this positive business mood when the Maori Business Barometer results are announced next month. The Federation has joined with the ANZ in developing the Barometer, and the first set of results provide great insights into the dynamism of Maori business.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>