US EditionDairy Giant New Zealand Endures Butter Price Shock
NEW ZEALAND, JUL 17 – Global dairy prices rose 14% year-on-year with butter up 59%, while Fonterra warns geopolitical conflicts continue to create uncertainty in the market outlook.
- On July 15, the Global Dairy Trade price index rose 1.1pc, marking the first increase since early May on the back of jumps in whole and skim milk powder.
- Fonterra's chief financial officer Andrew Murray warned, noting geopolitical conflicts added to market risks amid global dairy price uncertainty.
- According to Stats New Zealand, butter prices leapt 46.5pc in the year to June to NZ$8.60 per 500 g block, with local supplies cut short.
- Higher dairy payouts have injected NZ$4.6 billion into the economy, independent economist Brad Olsen said, adding economic benefits.
- Dalilah Ghazalay said, noting 4.7 percent GDP growth in Southeast Asia this year and $1.02 billion in 2024 exports, demand remains robust despite macro challenges.
47 Articles
47 Articles
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