New Zealand's butter production is expected to rise in 2024

Published 2024년 8월 26일

Tridge summary

The USDA Dairy World Markets and Trade report forecasts a minor uptick in New Zealand's butter production to 525,000 tons in 2024, driven by investments in processing facilities for high-value products like grass-fed butter. Despite challenges such as high debt servicing costs and fluctuating feed and fertiliser prices, exports are predicted to see a slight decrease to 495,000 tons. Demand for New Zealand butter remains strong, especially in markets like China and the United States. Anhydrous Milk Fat (AMF) exports have also seen a 24% increase year-to-date, indicating robust global demand for high-value dairy products. New Zealand's strategy to shift its focus towards producing and exporting such products is expected to continue boosting its trade performance.

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

Original content

In 2024, butter production in New Zealand is expected to increase to 525,000 tons, slightly above the previous year, according to a recent USDA Dairy World Markets and Trade report. Relatively stable production is supported by the recent investments in processing facilities focused on producing high-value products such as grass-fed butter. Additionally, New Zealand dairy farmers face economic pressures from high debt servicing costs and fluctuating feed and fertiliser prices, which could affect overall butter output. New Zealand’s butter exports are forecast to decline modestly to 495,000 tons in 2024. Despite a slight decline in butter exports early in the year, the overall demand for New Zealand butter remains firm, particularly in key markets like China, and the United States. Anhydrous Milk Fat (AMF) exports are also performing well, ...

Source: The Cattle Site