New Zealand WMP export shipments rose 3% YOY in September to 74,295t. This was the fourth consecutive monthly increase, bringing season to date shipments 15.8% above the comparable season to date period. WMP exports to China & HK rose 10.1% YOY in September, but there were also gains in exports to South America as well as North and Sub-Saharan Africa but shipments to SE Asia and the Middle East were 9% down 10% respectively.
Following two consecutive monthly falls, September SMP exports rose 8.5% YOY to 16,327t. Season-to-date SMP shipments were down 13.2%. September exports to China & HK were up just 0.5% YOY after falling in every month between March and August. Cheese exports have been tracking down since March this year, falling YOY in six of the seven months since, mostly reflecting weaker sales into Japan, Australia and the Middle East. September total cheese exports were down 12.5%, bringing season-to-date shipments 7.5% below the comparable (a difference of 7,121t).
After falling for the first seven months of the year in YOY terms, butter exports recovered in August and September, reflecting lower average shipped prices and stronger import demand from China & HK and the CIS region. September exports were up 8.2% YOY to 12,892t while season to date shipments remain down 0.9%. AMF exports also recovered in September – up 7.1% YOY to 10,474t, but season to date exports were down 0.8%, reflecting weaker exports into Mexico and the United States, and despite stronger shipments into China & HK.