This fall was price driven, with the quantity exported up 1% from October 2014. Milk powder was down $189 million (29%) to $473m. Cheese rose $26m (21%) to $150m. Milk fats (including butter) fell $35m (15%) to $207m.
Milk powder, butter, and cheese exports to China rose by $32 million during October compared to a year earlier but exports to Japan were down by $25 million (39%).
Compared to a month earlier, the value of milk powder, butter, and cheese exports fell 3% ($27m) following a 15% fall in September 2015; however volume rose 1.9%.
Statistics NZ said the value of milk powder, butter, and cheese exports has fallen for nine of the past 12 months. The commodity rose from April 2015 to June, before falling for four consecutive months to October 2015.
"The rise and fall of dairy exports has been driven by demand from China, and is reflected in our total exports to China. China became the top export destination in November 2013, but fell below Australia from March to September 2015," Statistics NZ said in its release.
"However, China is now both our top export destination for goods, and our top source of imports. Although milk powder exported to China fell 65% for the year ended October 2015, it is still the largest commodity. Smaller exports such as beef and fruit have doubled in value in the past year."
