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Speaker 1: Say, what was a complete bust? This Olympic rehearsal didn't

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Speaker 1: happen today either. They spent billions on the river. The

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Speaker 1: rehearsal was set to again. None of it's happening. So

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Speaker 1: what's going on with the Olympics? Catherine Field for a

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Speaker 1: shortly meantime, back to the good news we mentioned earlier

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Speaker 1: on Round our exports May record month for returns. We

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Speaker 1: cracked the seven billion dollar mark for the first time.

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Speaker 1: Advocacy director for Export in New Zealand, Katherine Beard, is

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Speaker 1: with us on this. Catherine, very good morning to you.

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Speaker 2: Good morning.

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Speaker 1: So a couple of riders. May it's traditionally a high season, right,

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Speaker 1: generally we do okay in May.

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Speaker 2: Yeah, May is a good season. It's the height of

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Speaker 2: the fruit season and it's strong for meat, dairy and

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Speaker 2: vegetable exports. So it is usually a good mark.

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Speaker 1: But a record is a record, and you can't take

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Speaker 1: away a record. What's going on with America? Why are

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Speaker 1: they suddenly gobbling down all our wine and apples and beef.

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Speaker 2: Look, they've always been strong for those those exports and

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Speaker 2: they are getting stronger. So and that's fantastic. You know,

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Speaker 2: a high quality market lots of people with money and pockets.

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Speaker 2: So yeah, beef's very strong, wine, sheep, meat, and berry.

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Speaker 2: They kind of dominate the exports to that market, and

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Speaker 2: the United States says, leap frog Australia to become the

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Speaker 2: number two export market.

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Speaker 1: And how much of that is US going into America

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Speaker 1: and saying try key we versus them actually having a

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Speaker 1: reasonable economy at the moment. They got more money anyway,

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Speaker 1: and they've discovered us.

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Speaker 2: Look, it's probably a bit of both really, because you know,

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Speaker 2: wine's been doing well in America for a long time,

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Speaker 2: so as beef. We sell a lot of beef into

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Speaker 2: hamburger patties. Actually, And I was looking at the stats

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Speaker 2: and beef is up a phenomenal thirty one percent for

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Speaker 2: the USA, but on the downside, beef is down forty

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Speaker 2: five percent China. So they kind of counteract each other.

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Speaker 1: That was my next question. It doesn't in totality offset China.

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Speaker 1: Where are we at with the China story? Are they

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Speaker 1: on the comeback? Will they be on the comeback? Are

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Speaker 1: we worried?

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Speaker 2: Look, I think they will come back because they so large,

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Speaker 2: but the growth is not going to be as big

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Speaker 2: as it's been over the past sort of probably five

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Speaker 2: to ten years. Their economy is sort of rebalancing. I

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Speaker 2: did have a look at the overall situation outlook for

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Speaker 2: primary exports because they do dominate our export stats. And

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Speaker 2: you've got to keep in mind one month doesn't make

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Speaker 2: a year, and so for the year to the end

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Speaker 2: of twenty four, so this June they're forecasting to be

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Speaker 2: five percent down, so and for twenty twenty five, MPI

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Speaker 2: is forecasting to be a six percent rebound. So I

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Speaker 2: think overall the primary air re exports sector, which is

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Speaker 2: so important to our stats, is kind of a bit

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Speaker 2: like the rest of the economy. Of the economy and

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Speaker 2: you know, hanging until twenty twenty five, really.

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Speaker 1: Survive till twenty five. Catherine always good to catch up with.

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Speaker 1: You appreciate it very much, Catherine being the air because

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Speaker 1: he directed for Export US in nineteen minutes Away from seven.

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Speaker 1: For more from The Mic Asking Breakfast, listen live to

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