fbpx
Print this page
Thursday, 28 April 2022 13:55

Dairy commodity price rises drive increase in March exports

Written by  Staff Reporters
Dairy exports have led a rise in the value of total good exports. Dairy exports have led a rise in the value of total good exports.

The value of total good exports rose strongly in March, driven by increases in dairy products, beef, and aluminium, Stats NZ says.

These increases were mainly the result of higher prices.

In March 2022, total goods exports rose $978 million (17%) from March 2021 to reach $6.7 billion.

Exports of dairy products (milk powder, butter, and cheese commodity group) led the rise, up $461 million (30%) to $2 billion in March 2022.

This rise was led by milk powder, up $180 million on a year earlier. The rise was price-led, as quantities exported fell 9.3 percent. Rises in butter (up $111 million), cheese (up $71 million), and milk and cream (up $56 million) were also price-led.

Compared with March 2021, unit price changes for dairy products included:

  • Milk powder (up 33%)
  • Cheese (up 27%)
  • Butter (up 44%)
  • Milk and cream (up 33%).

“The recent high prices for exported dairy products have pushed values higher in almost all months of the 2021/22 export season to date, despite a fall in the overall quantity exported this season,” says international trade statistics manager Alasdair Allen.

Exports of milk powder, butter, and cheese in the 2021/22 season to date (August–March) were 18 percent higher in value, but 6.7 percent lower in quantity than in 2020/21.

The total value exported in the season to date is higher than in the strong dairy export season of 2013/14 when international prices were also high.

Other contributors to the rise in exports were beef (up $101 million), unwrought aluminium (up $57 million), and casein (up $31 million). These increases were all price-led; average unit price changes for these commodities compared with March 2021 were:

  • beef (up 39 percent)
  • unwrought aluminium (up 70 percent)
  • casein (up 46 percent).

Of New Zealand’s main export markets, the United States had the largest rise, up $225 million (39 percent) to $796 million. The rise was led by increases in lamb, mechanical machinery and equipment, and casein.

More like this

Food prices dip slightly but still high

Food prices in New Zealand were 6.3% higher than a year ago but were cheaper in October 2023 than they were a month earlier, according to figures from Stats NZ.

Deafening silence

OPINION: This old mutt notes that the latest figures from Stats NZ show that in the quarter ending December 2022, the country’s ag sector decreased its emissions by 1.3% (132 kilotonnes).

Featured

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

National

Knowing bugs means fewer drugs

A mastitis management company claims to deliver the fastest and most accurate mastitis testing available at scale for New Zealand…

Machinery & Products

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

JD unveils its latest beast

John Deere has unveiled its most powerful tractor ever, with the launch of the all new 9RX Series Tractor line-up…

Biggest Quadtrac coming to NZ!

In the biggest announcement that Case IH Australia/New Zealand has made around its tractor range, its biggest tractor is about…

A different shade of blue for Norwood

Norwood and ARGO Tractors, the Italian manufacturer of Landini and McCormick tractors, have announced an agreement that gives Norwood exclusive…

Kubota tests diesel engines

Kubota last month used the UK LAMMA Show to test the water with its new 200hp, four-cylinder 09-series diesel engines.