NZ forestry exports are expected to increase 4% this yearFriday 13 Dec 2024
“The hard work and innovation of our world leading farmers, growers, fishers, foresters and processors are driving these exceptional results,” Mr McClay says. “Strong global demand and healthy prices in key markets are positioning our food and fibre exports for record growth.” Forestry export revenue is expected to rebound 4 per cent to $6.0 billion this year, recovering from domestic supply-side disruptions and slow global demand. Renewed engagement and increased building activity in China is also set to drive higher demand for logs and processed wood products. “The primary sector is the backbone of our economy and will continue to play a key role in achieving our ambitious target of doubling exports by value in 10 years. “To drive this growth the Government has moved swiftly to remove regulations hampering the sector’s success. Already we’ve rolled out a comprehensive package of changes to reduce costs for farmers, drive productivity, slash red tape, streamline approvals, and secure trade deals that increase market access and boost returns,” Mr McClay says. “Now more than ever global consumers are demanding high-quality, safe, and sustainable food and fibre products and New Zealand producers are well placed to provide this.” The export forecasts were released in the latest Situation and Outlook for Primary Industries (SOPI) report. Source & image credit: NZ Government  | ||
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