28th October 2020 By Staff Reporter | email@example.com | @foodtickernz
The value of New Zealand’s dairy product exports in September 2020 fell from the same month in 2019, despite the country exporting more this year, says Stats NZ.
Milk powder, butter, and cheese exports fell $97m for the month, led by falls in milk fats including butter, which was down $35m, and milk powder down $31m as prices came under pressure, according to the latest export data from Stats NZ.
“New Zealand exported a greater volume of dairy products in September 2020 than in the same month last year, but received less in return,” senior insights analyst Nicholas Cox said.
“September is typically a low point in the export season for dairy products.
“The falls in butter and milk powder were price-driven, as the export volumes for both commodities were higher in 2020, by 8% and 4%, respectively.”
Cox said global dairy auction prices were slightly weaker in July and August, before recovering somewhat since early September.
According to Stats NZ preparations of milk, cereals, flour, and starch, including infant formula, fell $53m, down 26% in value and 29% in quantity.
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