Overall value of dairy exports increases by 17 per cent

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RNZ

High prices for dairy have helped lift the overall value of dairy exports by 17 per cent.

In the year to July, the total export value of milk powder, butter and cheese increased $2.8 billion to $18.8b.

Stats NZ said the annual increase was heavily driven by exports of milk powder, up $1.1 billion to $10 billion and milk fats, including butter, up $1.1b to $3.8b from the year ended July 2021.

Over half of the dairy commodity group exports were made up of milk powder products (55 per cent).

Milk powder, butter, and cheese made up 28 per cent of total annual exports of all commodities.

Other annual increases within dairy products included fresh milk and cream, up $231 million (21 per cent) to $1.3b, and cheese, up $112m (5.3 per cent) to $2.2b.

Stats NZ international trade statistics manager Alasdair Allen said dairy products had a strong finish to the export season with a continuation of high prices, especially in the second half of the season.

Compared with the year ended July 2021, unit price changes for dairy products included:

• Milk powder (up 27 per cent)
• Milk fats including butter (up 40 per cent)
• Milk and cream (up 20 per cent)
• Cheese (up 19 per cent)
• Whey and other products (up 23 per cent)

- RNZ