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Falling NZ meat and wool exports down

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Falling volumes are forecast to push NZ meat and wool exports down to $8.2 billion in the year ending June this year. That was a 9.6% drop from the previous year and $40million lower than the previous forecast in December last year, a new quarterly update of the Ministry for Primary Industries’ Situation and Outlook for Primary Industries said.

 

Wool export revenue was forecast to fall 19% to $620million in the year ending June 2017, as exports continued to suffer from a lack of demand, particularly from China. China was the largest destination country for New Zealand wool but, over the past year, exports were down 33%, the report said.

 

Source: NZ Ministry for Primary Industries

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