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Source: New Zealand Government

Food and fibre export revenue is tipped to reach $54.6 billion this year and hit a record $66.6b in 2028 as the Government focuses on getting better access to markets and cutting red tape, Agriculture Minister Todd McClay and Oceans and Fisheries Minister Shane Jones say.

“This achievement is testament to the hard work and resilience of our farmers, growers, processors, fishers and foresters,” Mr McClay says.

Amid global inflation and lower demand, this year’s forecast result is a 5 per cent dip on last year’s record $57.4b. However, export revenue is expected to lift significantly over the coming four years, with sustained growth forecasting a record $66.6b in 2028.

“The Coalition Government has set the aspirational goal of becoming an exporting powerhouse by doubling the value of our exports in 10 years. Our food and fibre sector will be pivotal to achieving this goal,” Mr McClay says.  

“As a small exporting economy, the Government is committed to easing the path for New Zealand’s exports and tackling barriers faced by our food and fibre exporters.

“My visits to China, the Gulf regions, India, and South East Asia are already paying dividends, with negotiations kicking off on a Comprehensive Economic Partnership Agreement with the United Arab Emirates to open up new commercial opportunities for our exporters. 

“It is only through the continued growth of New Zealand’s high quality, safe and sustainable exports that our economy is boosted, our cost of living reduced and the public services Kiwis deserve are funded,” Mr McClay says.

“To grow New Zealand’s exports and continue providing vital food and fibre needed here too, we need the right settings, tools, and support for producers,” Mr Jones says.

“The Government is working to ensure regulations are less costly and bureaucratic while protecting our environment, as our domestic and overseas consumers expect.

“An example of this is the recent introduction of the Resource Management (Extended Duration of Coastal Permits for Marine Farms) Amendment Bill. It will extend current resource consents for marine farms by up to 20 years, removing a significant burden on the aquaculture industry and providing certainty for the future of marine farms.”

Forecasts were released today in the latest Situation and Outlook for Primary Industries (SOPI) published by the Ministry for Primary Industries and available on the MPI website.