The Ministry for Primary Industries in New Zealand released its 2017 ‘situation and outlook’ recently.
By June 2018 the ministry is expecting agricultural exports to lift to over $41bn, explained by the forecast that dairy prices are likely to remain near current levels.
This would increase dairy export values to $17.3bn. Minister for Primary Industries Nathan Guy said the report was encouraging for the sector, especially since it had not been an easy year for farmers.
During the past year production and export volumes for meat and wool exports have fallen. The ministry was expecting 2017 exports to drop by almost 9.8 percent to $8.3bn.
Wool export revenue has fallen 28 percent since June last year to $550m.