Dairy export volumes boom, prices fall

Last updated 11:22 03/12/2012

Relevant offers


Blue cod changes a 'satisfactory compromise' House sales, looming inflation spur Kiwi spend-up on their homes Organic Initiative on mission for hygiene revolution Labour's Annette King denies internal rift over TPPA deal Second SPG director pleads guilty to charges brought by watchdog Little Island signs deal for Samoan coconut supply A2 Milk whips up $40m capital raising, oversubscribed Spark says virtual shareholder meeting a New Zealand first Sanford worker who fell into freezing hold on boat in Bluff out of hospital Restaurateurs gather in Nelson for hospitality conference

Driven by high exports of milk powder, dairy export volumes boomed 32 per cent in the September quarter to record levels, according to Statistics New Zealand.

However, dairy export prices were down 13 per cent in the same three months, taking overall export prices down more than 6 per cent.

"Dairy export volumes are at record levels, after adjusting for seasonal effects," Statistics NZ prices manager Chris Pike said. "Dairy values remain at high levels, even though export prices have fallen for five consecutive quarters."

After a bumper grass-growing season, dairy products made the largest contribution to a 9.7 per cent total rise in seasonally adjusted export volumes.

Meat export volumes rose 15 per cent.

Meanwhile, import volumes rose 0.7 per cent, led by intermediate and capital goods.

Export prices fell 6.3 per cent, led by dairy prices (down 13 per cent), while import prices fell 3.3 percent, led by a fall in petroleum and petroleum product prices (down 13 per cent).

In the September 2012 quarter, the terms of trade fell 3.2 per cent. A fall in the terms of trade means that fewer imports can be funded by the same quantity of exported goods. The terms of trade are 9.1 per cent lower than a year ago.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content