Thursday, March 28, 2024

Waikato still the winner

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New Zealand’s regional economies were better off by $14.3 billion last season due to the dairy industry, DairyNZ figures show.
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That was a 40% increase in earnings from the season before with the Situation and Outlook 2014 report from the Ministry for Primary Industries estimating the NZ economy earned $17.6b from dairy exports.

DairyNZ’s chief executive Tim Mackle said its Economic Survey showed most of the earnings went back into growth, farm spending, and jobs. This helped to grow the provinces’ wealth even if they were not dairy farming themselves.

Dairy export revenue is expected to reach $18.4b by the year ending June 30, 2018, based on a modest rise in domestic production, increasing international dairy prices, and a depreciating NZ dollar, the MPI report said.

Waikato retained its top spot earning $3.8b, up from $2.76b, followed by Canterbury with $2.77b, up from $1.98b. Southland came next with $1.72b, an increase from $1.26b, then Taranaki with $1.44b, which was boosted from $1.04b the year before.

In the lower rankings Bay of Plenty’s earnings are estimated at $991 million, up from $672m followed by West Coast-Tasman, Marlborough-Nelson at $841m, a lift from $487m. Northland is estimated to earn $790m from dairying, up from $576m and Otago boosted its earnings from $535m to $727m. Manawatu came next at $643m, up from $477m with Wairarapa reaching $473m, a lift from $351m. Hawke’s Bay broke the $100m barrier at estimated earnings of $123m, compared with $92m the year before.

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