(RTTNews) – New Zealand’s dairy exports are expected to surge in the next four years as both export prices and volumes increase, the Ministry of Agriculture and Forestry said on Tuesday. By the year ending June 30 2014, earnings are projected to reach NZ$15.7 billion. Earnings for the current year expected to total NZ$9.94 billion.

In its Situation and Outlook for New Zealand Agriculture and Forestry report, the ministry said the rise in exports would be fueled by developing economies including China. Currently, developing countries are the destinations of about 72% by export value. The ministry said whole milk powder and skim milk powder are the predominantly exported dairy products to developing countries.

New Zealand’s other farm and forestry exports are also expected to pick up by the government. Exports of beef, lamb, wool, wine, venison and kiwifruit are all forecast to generate increased revenue over the next four years.

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