Agribusiness

Large rise in meat and dairy manufacturing

meat-on-grill

The largest rise for five years in volumes of meat and dairy products drove manufacturing up for the second quarter in a row, Stats NZ said.

After adjusting for seasonal effects, the volume of total manufacturing sales rose 2.0 percent in the March 2019 quarter, after a 2.4 percent rise in the December 2018 quarter. It was led by a strong 11 percent rise in meat and dairy products manufacturing.

“The volume of meat and dairy products manufacturing sales had the highest percentage rise since the December 2013 quarter,” manufacturing statistics manager Sue Chapman said.

Sales volumes for seven of the 13 industries fell in the March 2019 quarter. However, these falls were offset by the large rise in meat and dairy products manufacturing (up 11 percent). The largest decrease was in petroleum and coal products manufacturing (down 4.0 percent).

“The fall in petroleum and coal products manufacturing reversed a similar rise in the December 2018 quarter,” Ms Chapman said. “This industry mainly reflects petroleum manufacturing, and quarterly production volumes often move up and down sharply.”

Manufacturing sales values up 1.0 percent

In current prices, sales values for the March 2019 quarter rose 1.0 percent ($279 million) compared with the December 2018 quarter.

Meat and dairy products manufacturing had the largest increase, up 6.3 percent ($523 million). Petroleum and coal products manufacturing had the largest decrease, down 13 percent ($351 million), reflecting both lower output prices and lower production volumes.

With price effects included, the actual total value of manufacturing sales was $28 billion in the March 2019 quarter, up $1.1 billion from the March 2018 quarter.

Source: Stats NZ

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