File photo: RNZFonterra says sustained increases in global dairy prices are behind the higher cost of cheese. It said global cheese prices have jumped 15 percent over the last year. In New Zealand, the company said it held retail cheese prices, for brands like Mainland, for most of the last year. Māngere Budgeting Services chief executive Darryl Evans said it has been months since its foodbank parcels included staple dairy products. The underlying market is really strong for all dairy products and that's what we're starting to see flow through here to our supermarket prices in New Zealand."

Source: Otago Daily Times July 03, 2021 01:18 UTC