New Zealand’s forestry exports are forecast to rise nearly 11% in the year ending June 2018 to NZ$42.2 billion. This would be the largest annual increase since 2014, according to the Ministry for Primary Industries’ (MPI’s) latest quarterly update.
“Our Situation and outlook for primary industries report shows export revenue across all of the sectors has been incredibly strong over the past year, particularly for dairy, meat, and forestry,” says Jarred Mair, MPI’s policy and trade acting deputy director general.
“Forestry exports are also forecast to grow by more than 11% in 2018, supported by record harvest levels and ongoing demand for New Zealand logs from China.” High returns and new policies are likely to create investment opportunities across the primary industries, says Mr Mair.
“For example, high horticulture returns are driving investments in productivity and competition for suitable land. The Government’s One Billion Trees Programme is another catalyst for investment and changing land use, primarily through increased replanting rates and new production forest area.”
MPI’s Situation and outlook for primary industries report provides a snapshot and forecast for New Zealand’s major primary sectors. Read Full report here.