Higher volumes of exports resulting from last year's great grass growing season have boosted primary sector revenue this past quarter.
The Ministry for Primary Industries report of production and trade statistics for the September 2012 quarter shows primary sector export revenue at $7.12 billion for the quarter, up 4.7 per cent on the previous September quarter. Revenue of $32.43 billion for the year to September is up 0.5 per cent on the previous year.
'This is despite difficult trading conditions and a stronger New Zealand dollar,” says Chris Jones, MPI's Economic Information and Analysis Manager.
'The result is mostly driven by higher meat and dairy volumes, as exporters sought to reduce stocks generated by the bumper production season.”
Dairy export revenue is up 10.4 per cent for the quarter, due to a 36 per cent volume increase – largely from the 2011/12 season.
Over the decade since September 2003, the dairy industry's contribution to total primary sector export revenue has increased from 30 per cent to 43 per cent in 2012.
Meat export revenue increased 1.6 per cent to $1.04 billion for the September quarter, however the higher volumes are moderated by lower prices for lamb, sheep meat and venison.
Seafood revenue is up 4.6 per cent to $385 million for the quarter, due to a 6.1 per cent volume increase.
Higher export revenues from sawn timber and panel products are not enough to counter weaker incomes from other forestry products.


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