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New Zealand farm exports forecast to rise in value by 20 percent over next three years
WELLINGTON, New Zealand (AP)--New Zealand's farm exports are expected to rise 20 percent over current levels by 2008, agricultural economists said June 10.
Exports of farming, horticulture and forest products are expected to total 21.2 billion New Zealand dollars (US$15 billion; euro12.4 billion) in 2008, up from NZ$16.9 billion (US$12.1 billion; euro9.9 billion) in 2004, said Tony Wharton, a senior policy analyst at the Ministry of Agriculture and Forestry.
The largest contributors to the increase are expected to be forestry and dairy products as export volumes and prices rise over the next three years, he said.
About half the New Zealand economy is based on farm production and servicing.
The projections were in the ministry's 2005 May Situation and Outlook for New Zealand Agriculture and Forestry, released June 9.
Meat exports were forecast to jump 10 percent in value by 2008, driven largely by increasing lamb exports.
Meanwhile, beef prices are expected to fall in the 2005-2006 year, then rise through to 2008.
Associate Agriculture Minister Damien O'Connor said the outlook showed that the country's farmers, growers and foresters were in a good position.
Date: 6/23/05
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