Slight decline expected for New Zealand whole milk powder production

Published 2024년 9월 4일

Tridge summary

The USDA Dairy World Markets and Trade report projects a slight decrease in New Zealand's whole milk powder (WMP) production in 2024, from 1.385 million tons in 2023 to 1.375 million tons, due to dairy processors shifting their focus to the production of higher-margin dairy products like butter, cheese, and cream. Despite this, WMP exports are expected to rise to 1.45 million tons in 2024, fueled by strong global demand, especially from Southeast Asia and the UAE. The first quarter of 2024 saw a 32% increase in WMP exports compared to the same period in 2023, a trend supported by rebounding global dairy trade prices. The New Zealand dairy industry's investment in boosting processing capacity for high-value products indicates a potential cap on long-term growth in WMP production.

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

Original content

In 2024, New Zealand's production of whole milk powder (WMP) is projected to decline slightly to 1.375 million tons, according to a recent USDA Dairy World Markets and Trade report. This decrease is attributed to a strategic shift by dairy processors towards the production of fresh dairy products such as butter, cheese, and cream, which currently offer higher returns. The New Zealand dairy industry continues to invest in enhancing processing capacity for higher-value products to maximise returns in a competitive global market. Despite the production decline, New Zealand's WMP exports are forecast to increase to 1.45 million tons in 2024, driven by strong global demand, particularly from Southeast Asia and the UAE. The first quarter of 2024 saw a significant, 32% rise in WMP exports compared to the same period in the previous year. This growth is supported by rebounding global dairy trade prices from their lows in mid-2023. While WMP exports are expected to grow, the ongoing ...

Source: The Cattle Site