NZ Agricultural exports could double by 2050 – ANZ

Up to $1.3 trillion additional revenue available to New Zealand over next four decades –

New Zealand has the potential to capture $1.3 trillion more in agricultural exports between now and 2050 if targeted actions are taken, according to a new report released by ANZ today.

‘Greener pastures: The Global Soft Commodity Opportunity for Australia and New Zealand’ quantifies the size of the opportunity open to New Zealand and Australia agriculture as a result of the shift in global economic growth to Asia.

Key findings of ‘Greener Pastures’:

• Rising incomes and changing diets in developing countries means the world will demand at least 60 per cent more agricultural output by 2050, compared with 2005–2007.
• New Zealand could stand to gain an additional NZ$550 billion. This could increase to NZ$1.3 trillion with favourable conditions and targeted actions.
• NZ$340 billion in additional capital is needed to drive production growth and support farm turnover in New Zealand.
• Intense competition from emerging players with countries like Brazil, Malaysia and Indonesia becoming major threats.
• The agricultural industry in New Zealand is heavily reliant on its dominant dairy industry. 

Full release attached.

Full report is available at www.anz.com/insight