Rural Wrap: Buoyant but at risk
• Primary sector exports strong
• Many factors in play for what comes next
• Geopolitics and trade developments important
• El Nino a key risk this season
• Disease, inflation, and interest rates on the radar too
• Global growth and NZD provide reasonable backdrop
New Zealand’s primary exports have been buoyant over the past 18 months or so – with elevated pricing and decent volumes across many major products. Confidence in the agricultural sector is strongly positive.
This is quite remarkable in the context of global goings on especially given that assessing what comes next is fraught with difficulty due to a litany of uncertainties and risks that could materially and abruptly alter the outlook for better or worse. There are many items on the radar.