Primary production boom in NZ confirmed

Primary production boom in NZ confirmed

The Ministry for Primary Industries has released a new combined primary industry quarterly report, comprising production and trade statistics for the Dairy, Meat and Wool, Forestry and Seafood industries. It replaces separate quarterly reports for forestry and seafood that were previously released by the Ministry.

The primary sector continued to be an economic driver, with total primary sector exports accounting for 71% of all merchandise exports in the year to March 2012.

MPI reports favourable climatic conditions led to a continuation of better-than-usual pasture growth during the March 2012 quarter. As a result, farmers achieved near-record carcass weights for slaughtered livestock.

At the same time, total export revenue for the year to March 2012 was up 6.2% on the previous year at $32.3 billion.

Total seafood export revenue was up by 9.4% in the March quarter, due to increasing prices and a volume increase of 3.4%.
Source: NZ Ministry for Primary Industries