New Zealand: Dairy exports down 7% in 2022

Published 2023년 2월 10일

Tridge summary

New Zealand's dairy exports in December 2022 showed a modest year-on-year increase but marked a 7% decrease for the full year due to shifts in commodity streams. Whole milk powder (WMP) exports experienced an 18% decline, with a decrease in demand from China, while skim milk powder (SMP) and milkfat stream exports saw positive growth. Milkfat exports, including anhydrous milk fat (AMF), increased by 16% and 10% respectively, driven by demand from China and Mexico. However, cheese and whey exports saw declines of 5% and 14% respectively. In contrast, the EU-27 + UK reported an increase in milk production of 2.1%. The Global Dairy Trade (GDT) Pulse Auction saw regular grade WMP prices rise by 3.2% at the week's auction, reaching US$3303/t.

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

Original content

New Zealand’s December export figures were released last week, giving us the full 2022 calendar year of dairy exports for the nation. While we had a positive result in December YoY, up 2%, total exports declined 7% for the full 2022 calendar year, with consecutive declines through the middle of the year. Commodity export shifts were driven by a change in stream returns, with a pull away from whole milk powder (WMP) processing and a shift towards the skim milk powder (SMP) and milkfat stream. Milk powders had a mixed year of exporting. WMP exports declined 18% YTD with only 1.358 million tonnes. This figure was compared to a record year of WMP exports the year prior. However, when going back to 2020 and 2019, the 2022 full year of WMP exports declined 12% and 13% compared to those years, respectively. China was the main driver of WMP demand slipping, with the country taking a whopping 48% less WMP for 2022. This figure is even more significant when you look at China’s market share ...

Source: Farmersweekly