Sizzling cheese prices won't help dairy farmer incomes

NZ is not well placed to take advantage of trend. (Image: Depositphotos)

Wed, 07 Jun 2023

A global love for cheese isn’t all good news for New Zealand.Global dairy consumers have fallen in love with cheese, with cheese prices sizzling at or near record highs since late 2021, said Westpac Bank senior agri economist Nathan Penny.Since then, global cheese prices have averaged 32% higher than they did between November 2016 and October 2021, he said. In the overnight Global Dairy Trade auction, cheddar cheese prices were up 7.4% to US$4,668 (NZ$7,685) a tonne.Not well placed“Unfortunately, NZ is not well placed (relative...

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