New Zealand WMP shipments rose 6.6% YOY in January to 153,380t, following a 10.9% YOY decline in December. WMP shipments to China & HK rose 48% YOY, bringing season to date shipments 8.8% ahead of the prior season. In the same period, WMP exports to SE Asia were up 1.3%, while shipments to the Middle East were 3.3% higher. Season to date WMP exports to North and Sub-Saharan Africa were up by 21.2% and 26.5% respectively.
SMP exports have weakened in recent months and fell 22.3% YOY in January to 32,825t. Season to date SMP shipments were 10.2% weaker – reflecting weaker shipments to Asia and MENA in the face of cheaper competition. Cheese exports improved in January, up 12.6% to 37,449t which was driven by stronger shipments to China & HK, the Middle East and Australia. Season to date cheese exports were up 1.9% with increased shipments to China & HK, North Africa and South America.
After a surge at the end of the September quarter 2020, butter shipments fell YOY in every month since October. At 26,783t, January butter shipments were down 1.4% YOY, but with mixed trends across major destination regions. AMF exports were patchy in recent months and rose 5.7% YOY in January to 18,171t, reflecting stronger exports to SE Asia and North Africa. For the season to date, butter and AMF exports were down 5.4% and 4.2% respectively.