New Zealand Dairy is 17 Billion Dollar Industry18 July 2014
NEW ZEALAND – A surge in earnings from dairy product sales was reported last season on a national and regional level, says Dairy New Zealand.
Regions earned NZ$14.3 billion from dairy farms in 2013/14, taking most of the $17.6 billion made overall.
Dairy NZ chief executive Tim Mackle said the organisation’s latest economic survey shows a 40 per cent rise in economic contribution on the previous year.
He added that much of this has been 'injected' into farm businesses and employment.
"Our latest survey shows the financial value that dairy farmers bring into each province, helping grow residents' wealth even if they are not dairy farming themselves," said Dr Mackle.
The increase lifted national revenue from dairy 30 per cent higher, a Ministry of Primary Industries report has revealed.
The top provincial dairy area is Waikato, earning $3.8 billion, followed by Canterbury – at $2.77 billion -, Southland and Taranaki.
Dairy export revenue is predicted to increase further reaching $18.4 billion by 30 June, aided by a modest domestic production lift, global demand and a lower New Zealand dollar.
TheCattleSite News Desk