Wednesday, 23 July 2025 11:25

It's all about economics

Written by Milking It

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OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a 'please explain' from her former employer Fonterra.

Dairy is the country's largest export industry; but recent figured from Stats NZ show domestic butter prices have surged 65% and some people are struggling.

Surely, Willis will understand that global supply problems and high demand for New Zealand's products are driving local prices higher.

About 95% of New Zealand's dairy products are exported, which means the international market determines domestic prices.

It is a double-edged sword, where high prices are good for the country's economy but tough for domestic shoppers.

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