3rd December 2020 By Staff Reporter | email@example.com | @foodtickernz
Dairy and meat exports have both taken a dive this quarter, with dairy values hit by a 16% drop, according to new data.
Stats NZ said it had led to the biggest drop in terms of trade since June 2009.
Export prices for dairy products in the September 2020 quarter fell 12% overall in the quarter while meat prices dropped 8.8% with beef prices down 7.4% and lamb prices down 10%.
Bryan Downes, business prices manager said global dairy trade (GDT) prices rose overall in the same period.
“However, the GDT only represents a proportion of the dairy products exported by New Zealand.
“Dairy values have been the most affected with a 16% drop in the quarter compared with a 3.3% fall in dairy volumes exported.
“Dairy is one of New Zealand’s top exports, along with travel services, both of which have seen falls in value this quarter.”
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