NZ’s primary sector export revenue is projected to hit a record $50.8 billion in the year to June 2022. MPI’s Situation and Outlook for Primary Industries forecasts the country’s annual food and fibre export revenue will crack $50 billion for the first time next year – an increase of 6% over 2021’s earnings, which will be crucial in helping pay off the huge debts the country has incurred as a result of the Covid-19 pandemic. Agriculture Minister Damien O’Connor says the outcome of the SOPI revenue projections is a testament to the primary sector’s huge efforts to keep the wheels of our national and local economies turning. He says it’s important to acknowledge the hard work of rural New Zealand and to celebrate the performance and successes in the latest SOPI. Dairy products will deliver an estimated 10 percent increase in export revenue to $20.9 billion – Meat export revenue $11.1 billion, and Horticulture export revenue is expected to increase in export revenue of 5% to $6.9 billion with Forestry $6.7 billion.
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