NEW ZEALAND - Milk powder rose $48 million (7.3 per cent) in value in January 2017, despite the quantity exported falling by around 19,000 tonnes (9.4 per cent), Statistics New Zealand said today.
Milk powder, which made up 56 per cent of the milk powder, butter, and cheese commodity group in January 2017, more than offset lower sales for other goods, leaving overall exports up 0.3 per cent ($13 million).
When compared to the same period of the previous year, milk powder exports have risen in the last four months, after generally falling since September 2009.
"The recent rises in the value of dairy shows exporters are getting a better price for their milk powder exports than they were at this time last year," international statistics senior manager Daria Kwon said.
"The fall in milk powder quantity this month reflects this, with exporters getting more value for less product."
China continues to be New Zealand's top destination for milk powder exports, accounting for 32 per cent of milk powder exports in January 2017, followed by the United Arab Emirates, which accounted for 7.6 per cent.
The trade balance for January 2017 was a deficit of $285 million. Excluding crude oil exports and imports, the deficit was $36 million.
TheCattleSite News Desk
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