New Zealand agriculture sees export growth and rising farm profits

At the Red Meat Conference 2026, New Zealand officials highlighted a significant recovery in the agricultural sector. Red meat and wool exports reached $14.8 billion for the year ending in June, representing a 20 percent increase from the previous year.

Government reports indicate that rural confidence has risen from a low of minus 66 percent in late 2023 to plus 37 percent. This shift is accompanied by a forecast that average sheep and beef farm profits will nearly double this season to approximately $287,600 per farm, aided by favorable prices and lower interest costs.

Key policy efforts cited include the conclusion of free trade deals with India, the UAE, and the Gulf states, as well as the early implementation of an EU trade deal. Additionally, the government noted successful lobbying efforts regarding US beef tariffs and negotiations to secure exemptions from EU deforestation regulations.