It's all about economics
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.
Over the same period, cheese quantities exported rose 6.9%, and the average price per kilogram rose 26%.
“Cheese has become an even more valuable export for New Zealand over the last year, reflecting the higher prices that are being experienced globally,” says international trade manager Al Allen.
Cheddar cheese made up 43% of total cheese exported or $1.3 billion and was the top category exported in the year to May 2023.
Fresh cheese (mainly mozzarella and cream cheese) made up 18% ($528 million), and grated or powdered cheese made up 15% ($456 million) of the total.
China was the leading destination for cheese exported. There was $784 million worth of cheese exported to China (26% of total cheese exports). Japan made up 18% ($530 million) of total exports and Australia made up 11% (336 million).
“There were over 70 destinations that New Zealand cheese has been exported to in the past year,” Allen says.
In terms of value, cheddar was the top cheese export to Japan ($249 million), Australia ($211 million), and Korea ($151 million) in the 12 months to May 2023, whereas the top cheese exports to China was fresh cheese ($264 million) followed by grated or powdered cheese ($238 million).
