This is the 6th reduction in price on the trot and this likely does reflect consumers tightening their wallets with less food service demand. The latest prices for dairy commodities are:Butter index up 2.4%, average price US$6,213/MTCheddar index down 9.0%, average price US$4,875/MTSMP index up 1.0%, average price US$4,276/MTWMP index down 0.6%, average price US$4,125/MTTrade promotionSticking with trade, the Prime Minister is off to Europe to try and negotiate some improvements into what is looking a lukewarm deal being offered to New Zealand from the EU. The issues around cheese have become somewhat galling to local cheese manufacturers who currently are locked out of the EU with high tariffs and branding issues. Feta is a traditional cheese of the Greeks and was originally made from sheep and goat milk. New Zealand currently exports around $4 billion in goods to the EU.
Source: Stuff June 24, 2022 03:50 UTC