Promising forecast

New Zealand’s primary industry export revenue is forecast to reach $43.8 billion for the year to June 2019, an increase of 2.5 per cent from 2018. “The latest update gives an encouraging assessment of our major primary sectors which continue to grow — up $1.1 billion from the previous year,” says Emma Taylor, director of Agriculture, Marine & Plant Policy.

“It’s a promising outlook and builds on the strong growth seen in 2018, when export revenue increased 11.8 percent. In 2018, dairy prices recovered from the lows of 2015 and 2016, high red meat prices boosted meat and wool revenue, and strong demand for logs in China led to record export prices and volume.