The latest export figures published by Statistics New Zealand demonstrate a strong start to this velvet season. For the year ending December 2017, velvet exports hit $67m – a new record for the industry. This is up from NZ$42m for 2016 year. Some of the increase for the 2017 calendar year will be due to a phasing spike – due to the strong early season demand.
For the first three month of this season (October – December 2017) velvet exports were up significantly in both New Zealand’s core markets of Korea and China. The early season demand was created by some importers wanting to ensure velvet supply for the new season - after last years’ uncertainty.
NZ velvet exports (NZ$ FOB) for the three months ending December