Tuesday, 28 February 2017 14:26

Milk powder rise in value

Written by 
Milk powder rose $48 million in value in January 2017, despite the quantity exported falling by around 19,000 tonnes or 9.4%. Milk powder rose $48 million in value in January 2017, despite the quantity exported falling by around 19,000 tonnes or 9.4%.

Milk powder rose $48 million in value in January 2017, despite the quantity exported falling by around 19,000 tonnes or 9.4%, Statistics New Zealand says.

Milk powder, which made up 56% of the milk powder, butter, and cheese commodity group in January 2017, more than offset lower sales for other goods, leaving overall exports up 0.3% or $13 million.

When compared to the same period of the previous year, milk powder exports have risen in the last four months, after generally falling since September 2009.

“The recent rises in the value of dairy shows exporters are getting a better price for their milk powder exports than they were at this time last year,” international statistics senior manager Daria Kwon said.

“The fall in milk powder quantity this month reflects this, with exporters getting more value for less product.”

China continues to be our top destination for milk powder exports, accounting for 32% of milk powder exports in January 2017, followed by the United Arab Emirates, which accounted for 7.6%.

Crude oil, meat, and fruit all rose in January 2017. These rises were partly offset by falls in other commodities, such as casein, wool, and logs.

The trade balance for January 2017 was a deficit of $285 million. Excluding crude oil exports and imports, the deficit was $36 million.

More like this

Featured

Get ready for the ‘now’ norm

Get prepared for a ‘Now Normal’ future, says Ian Proudfoot – Global Head of Agribusiness for KPMG – discussing the likely effects of COVID-19 in the months to come.

 

Northland farmers count the costs

Northland farmers are starting to count the cost of one of the most severe droughts to hit the region as the cost of feed and lower prices for stock are the order of the day.

Times will get better for deer sector

While the deer industry faces several challenges in the short term, there will be a strong rebound in New Zealand venison sales once global demand recovers.

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Effluent power

Finnish dairy company Valio is on a mission to reduce milk’s carbon footprint to zero by 2035.

What’s in a name?

The man who coined the term ‘Gypsy Day’ is slightly miffed that a term he introduced to New Zealand’s farming…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter