October 30, 2012

Despite the high dollar and access complications with southern Europe, New Zealand's seafood export returns in January-June 2012 have slightly increased over the same period in 2011.

Seafood New Zealand's Economic Review shows food commodity export groups have suffered with the high dollar during the first half of 2012, with dairy, meat and horticulture exports all reporting declines, as have timber and oil.

Seafood export returns have, in contrast, increased by 1%, to US$706 million, from US$699 million in 2011. Seafood New Zealand attributes the modest increase to a range of markets and species, rather than any spectacular performer.

Exports of hoki to China for further processing, and largely re-export to the US, is probably the most significant of the increasing export trend.

The export value for the eight months to the end of August shows an increase in returns, from US$20 million to US$31 million. This was not just a result of increase in the hoki quota catch in New Zealand, but also an increase of 25% in the average value achieved in China (after freight and insurance were deducted) going from US$2.26, to US$2.82 per kilogramme.

On the other hand, exports to countries in southern Europe, Spain, Greece and Italy, have fallen significantly in the first half of 2012, compared with 2011. The decrease appears to have hurt sales of most species, but exports of squid, ling and hake may also have been depressed by difficulties with export certificates issued by New Zealand for fish caught by foreign charter vessels.