According to forecasts by the Ministry for Primary Industries (MPI), NZ food and fibre export revenue will likely drop 5% in the current financial year. The predicted drop to $54.3b is due to weaker export revenue for New Zealand’s three largest sectors: dairy, providing 45% of export revenue, meat and wool, providing 21%, and forestry, providing 11%. “However, revenue growth for some smaller and emerging seafood and arable sectors is set to limit the overall fall in export revenues,” the report said. “Seafood, kiwifruit, apples and pears, cherries and arable products are forecast to grow export revenue despite headwinds.”Horticulture export revenue to decrease 1% to $7 billion, primarily driven by lower volumes of wine and vegetables. Increased yields are expected to bring a lift in kiwifruit revenue and apple crops are likely to improve.

Source: Stuff December 19, 2023 13:14 UTC