Primary Industries Minister Nathan Guy is welcoming new figures forecasting that primary sector exports will reach $37.5 billion for the year ending June 2017, up $0.8 billion from the previous December forecast.
“This is the first time the Ministry for Primary Industries has produced a quarterly update of its Situation Outlook for Primary Industries (SOPI) which will give us a more accurate picture during the year,” says Mr Guy.
“Next year overall primary sector exports are expected to grow by 9.7% to $41 billion. It shows we have a strong and diversified primary sector with sectors like forestry and horticulture continuing to do well. It’s also pleasing to see dairy on the rebound after a tough few seasons.
“This year is likely to be more challenging for the sheep meat sector with market volatility and the UK’s exchange rate fluctuations.
“This is why the Government is strongly supporting the meat industry through the Primary Growth Partnership, with around half the funding going to red meat projects. Access to China for chilled meat is also a major positive, along with re-negotiated access to Iran.”
The SOPI report was released by Mr Guy at the Te Hono National Summit for primary industries leaders in Christchurch today. A full copy is available at http://www.mpi.govt.nz/about-mpi/corporate-publications/