Originally Posted by
Sideshow Bob
Meanwhile for Dairy:
Dairy (not including infant formula)
The value of New Zealand’s dairy exports to China in the first half of 2021 totalled $3.7 billion, 39% above the equivalent period in 2020. The increased value of dairy exports in this period was largely due to greater revenue from milk powder (+46%), butter exports (+26%), and cheese (+45%), driven primarily by an increased volume of sales.
Recently released MPI forecasts indicate that demand for New Zealand products into China is likely to remain strong despite a possible medium-term slowdown as China expands its dairy herd. Demand from China has been the key driver of export revenue for New Zealand dairy exporters due to recovery from COVID-19, consumer demand for dairy products, and high feed prices (for domestic dairy herds) resulting in increased demand for imports.
According to China’s official trade data New Zealand remains China’s largest source of dairy imports. China’s imports of dairy products from all sources grew 22% in the first half of 2021, and imports from New Zealand grew 13%.