NZ exports decline in August

by | Sep 27, 2023 | Global, Volume trends

New Zealand exports of major dairy products fell in August, led by WMP and despite improvements in other key product categories we track. WMP exports for the month fell 29.4% YOY to 47,459t. WMP exports to China & HK were down 54.9% YOY in August and behind 32.5% or 204,520t for the past year, reflecting higher local manufacture of product and lockdowns causing much weaker internal market consumption.

SMP exports were 16,424t in August, up 71.5% YOY (or 6,845t) with China & HK accounting for most of that growth, but also with expansion into SE Asia. The 29.2% overall increase in SMP shipped volumes in the past 6 months reflected changes in product mix and an improved exportable surplus, despite tight milk supplies.

Reflecting improved import demand from China & HK, cheese exports have increased since August last year, with August shipments for this year 18.7% ahead YOY at 23,045t. Fat exports rose 24.6% in combined commercial butter equivalent terms in August – butter was up 37.6% YOY while AMF rose 10.3% YOY.