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