Updated Jan 21, 2023 13:33

Currant And Gooseberry Market in New Zealand

Market Overview
The New Zealand currant and gooseberry market reduced to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt descent. Over the period under review, the market attained the maximum level at $ in 2012; however, from 2013 to , consumption failed to regain momentum.

In value terms, currant and gooseberry production dropped to $ in estimated in export price. Over the period under review, production continues to indicate a drastic downturn. The growth pace was the most rapid in 2017 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2012; however, from 2013 to , production remained at a lower figure.

In , the average currant and gooseberry yield in New Zealand stood at tons per ha, flattening at the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by % against the previous year. The currant and gooseberry yield peaked at tons per ha in ; afterwards, it flattened through to . Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In , the total area harvested in terms of currants and gooseberries production in New Zealand contracted to ha, almost unchanged from the previous year's figure. Over the period under review, the harvested area recorded a perceptible downturn. The most prominent rate of growth was recorded in with an increase of %. The currant and gooseberry harvested area peaked at ha in 2012; however, from 2013 to , the harvested area failed to regain momentum.


Consumption
In , consumption of currants and gooseberries in New Zealand contracted slightly to tons, approximately reflecting the previous year. Overall, consumption saw a perceptible descent. The pace of growth appeared the most rapid in when the consumption volume increased by %. Over the period under review, consumption hit record highs at tons in 2012; however, from 2013 to , consumption remained at a lower figure.

The size of the currant and gooseberry market in New Zealand shrank to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a abrupt setback. Currant and gooseberry consumption peaked at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for currant and gooseberry in New Zealand, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of currant and gooseberry in New Zealand were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for currant and gooseberry. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports increased moderately (less than percentage point) over the period under review.


Trade Balance
New Zealand remains a net exporter of currant and gooseberry; in physical and value terms, exports consistently exceeded imports from 2012 to . In , there was a trade surplus of kg, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.