Annual milk powder exports of New Zealand reach $9.7bn

Published 2024년 5월 24일

Tridge summary

New Zealand's largest export in the year to April was milk powder, accounting for 14% of total overseas receipts with an export value of $9.7 billion. Since April 2008, there has been a 109% increase in the annual value and an 112% increase in quantities of milk powder exports. China was the primary destination for these exports, receiving nearly 30% of the total milk powder exports. Other significant importers included Algeria, Indonesia, the United Arab Emirates, Malaysia, and Thailand. The free trade agreement with China in 2008 significantly boosted milk powder exports to China, with a 987% increase in value and a 1004% increase in quantity since April 2008.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Milk powder was New Zealand’s largest single commodity exported in the year to the end of April, accounting for 14% of overseas receipts. Data released by Stats NZ shows the country exported $9.7 billion of milk powder over that period. Since April 2008, the annual value of milk powder exports has increased 109% and quantities have increased 112%. China was the main destination for our milk powder exports for the year ended April 2024, at nearly $3bn or 30% of all milk powder exports, according to a Stats NZ press release. “The signing of the free trade agreement with China in 2008 accelerated exports to China. “Milk powder exports to China increased 987% in value, and 1004% in quantity in the year ended April 2024, compared with the year ended April 2008.” The second largest destination by value was Algeria, which bought $975 million worth of milk powder followed by Indonesia at $654m. United Arab Emirates, ...

Source: Farmersweekly