close
Share with your friends

Primary exports to grow $1.7b

Primary exports to grow $1.7b

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

1000
Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

Contact

Also on home.kpmg

primary_exports

[18 June, Farmers Weekly]

The Ministry for Primary Industries have data that shows primary sector exports are set to grow by $1.7 billion this year, which will help New Zealand to recover from the effects of Covid-19. Export revenue is tracking around 4.5 percent higher than in 2019. Dairy exports have been up 12% since the start of March on the corresponding time last year. It is expected that the animal protein shortage that has been caused by the African swine fever outbreak will help to support prices and demand over the next year. Agriculture Minister Damien O’Connor states that there has been a sustained demand for fresh fruit particularly in Europe and North America, and China is showing strong demand for red meat. The report also captured how Covid-19 has disrupted the primary industries, particularly in logistics and limited air freight options. Forestry exports were among those most affected by covid-19 with export revenue falling 23% in February, 29% in March and 62% in April from the corresponding periods in 2019. Mr O’Connor reports that he is confident that the outlook for the forestry industry will improve in the coming months.

To read this week's full edition of Field Notes, please click here.

To read the full original article, please click here.

 

 

© 2020 KPMG, a New Zealand Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal