Whole milk powder (WMP) exports reached a record level for March with nearly 160,000t shipped. Skim milk powder (SMP) exports were also very high, exceeding 40,000t.
Milk powder exports were at record levels this year for first quarter volumes, but the value of these exports was well down. Q1 milk powder exports dropped 46% in value from last year when considered in US dollar terms. In NZ dollars the value of milk powder exports fell 40%.
Cheese export volumes were also strong in March. More than 35,000t of cheese was exported from NZ in March. This was the highest monthly volume in more than two years. It was also a record volume for first quarter cheese exports.
The increase in export volumes in Q1 2015 compensated for lower exports earlier in the season. Since August 2014 NZ has exported just under one million tonnes of WMP, but this was still 27,000t short compared to the previous season. However on a season to date basis exports of SMP, anhydrous milkfat (AMF), cheese, and whey powder are all higher.
