November 2022 New Zealand Dairy Export Volume Snapshot
Market Intel Team|21 December 2022
Key Takeaways:
Skim milk powder exports climbed in November to the highest volume since December 2017, lifted by increased shipments to Algeria, UP 8,571MT from 0MT recorded the same time last year, a record high to the country. Although exports declined to China (-5,508MT or -21%), the largest holder of market share at 39%, increases seen to Indonesia (+5,527MT), Vietnam (+2,880MT), Thailand (+1,155MT), and the Philippines (+1,607MT) helped to push total exports above prior year levels. Year-to-date, exports are above 2021 as well, supported by increased shipments to North Africa and Southeast Asian nations despite lower volume to China.
Whole milk powder exports remained below prior year for the second consecutive month to mark the lowest November volume since 2017. Total shipments were held down primarily by decreased exports to China, DOWN -105,577MT (-67%) versus the prior year, the lowest November volume since 2017 as well. The significant loss to China was enough overcame increases seen to other countries, including the United Arab Emirates (+4,398MT or 102%), Indonesia (+4,316MT or +173%), Vietnam (+2,844MT or +339%), and Sri Lanka (+2,730MT or +334%). However, the most notable increase was seen to Algeria, UP 27,410MT in November 2022 from just 1,035MT recorded in 2021, achieving the highest November volume to the country since November 2016.
Cheese exports rebounded in November after declining below prior year levels in October, UP 5,103MT (+17%) driven by increases to China (+2,261MT or 30%) and Australia (+2,111MT or +75%). Shipments also increased over the previous year to Japan (+972MT or +16%), Saudi Arabia (+1,009MT or +140%), and South Korea (+747MT or +65%) which were enough to negate losses seen to Indonesia (-1,120MT or -68%), Trinidad and Tobago (-722MT or -64%), and Algeria (-906MT or -95%).
