Published:
Food and fibre exports hit record $65.2 billion
New Zealand reports food and fibre exports of NZ$65.2bn for the year to 30 June 2026, up 8% year on year, with strong dairy, meat and wool, and horticulture revenues; trade deals and supply-tightness are cited alongside disruption from the Middle East conflict and trade-policy changes.
New Zealand’s food and fibre exports reached a record NZ$65.2 billion in the year to 30 June 2026, rising NZ$4.8 billion from the previous year. Agriculture and Forestry Minister Todd McClay said the result beats earlier expectations and that exporters have continued to deliver despite a “tough year”, with the Middle East conflict and trade policies in key markets cited as factors that disrupted supply chains and pushed up inflation and input costs.
The ministry also highlighted that the sector is benefiting from strong demand and tight global supply. Exports were up 8% year on year and were ahead of the Ministry for Primary Industries’ June forecast of NZ$64.3 billion. By category, dairy export revenue increased 6% to NZ$28.8 billion, while meat and wool export revenue rose 20% to NZ$14.8 billion. Horticulture exports were up 5% to NZ$9.3 billion.
Markets outside New Zealand showed notable gains. Food and fibre exports to the European Union were up 20% to NZ$5.3 billion, and exports to the United Arab Emirates rose 11% to NZ$1.1 billion. The government also said that a free trade agreement with India is scheduled to take effect on 20 October, and that exports to India were already up 24% to NZ$541 million.
For FX-relevant watchpoints, traders may want to monitor whether these export gains persist as supply-chain disruptions and input-cost pressures evolve, and whether the India trade deal translates into further revenue momentum. The government also points to productivity and emissions-technology investment as a longer-run support for farmgate returns, which can matter for medium-term growth and inflation expectations.
Why this matters for FX
A large, export-led improvement supports New Zealand’s external income and terms-of-trade backdrop, which can influence NZD via expectations for New Zealand growth, demand for NZD assets, and broader risk sentiment around a key NZ export sector. The release also points to specific demand and policy channels (EU and other market growth, the India free trade agreement, and productivity/emissions investment) that traders typically map into longer-run export earnings and inflation dynamics for NZ.