Recovering dairy sector to lead export growth over the next year

The value of exports in April rose 9.8% from last year, bolstered by higher dairy prices.  New forecasts from Fonterra show that another lift in dairy prices can be expected for the 2017/18 season, and this season’s payout has been pushed above the $6/kgms mark – the first time the payout has topped that level in three years.  Since dairy prices plunged back in 2014, growth in New Zealand’s export earnings has been dominated by service exports, but the rebound in the dairy sector is expected to lead improvements in New Zealand’s export earnings for at least the next year.