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SELWYN TIMES Latest Canterbury news at starnews.co.nz<br />
Wednesday <strong>March</strong> <strong>18</strong> <strong>2020</strong> 29<br />
SELWYN RURAL LIFE<br />
Meat exports hit record high,<br />
but coronavirus looms<br />
Export prices for meat achieved their<br />
highest-ever level in the December 2019<br />
quarter, according to Stats NZ.<br />
“Meat export prices have risen for three<br />
quarters in a row, on the back of strong<br />
demand towards the end of last year,” says<br />
Stats NZ business prices manager Bryan<br />
Downes said.<br />
Meat volumes rose 3.2%, and values rose<br />
12% in the December 2019 quarter.<br />
“Over the year, meat prices also rose,<br />
with both beef and lamb prices up,” says<br />
Downes.<br />
The impact of coronavirus on New<br />
Zealand’s export prices is yet to be<br />
announced by Stats NZ.<br />
“Exports of meat and logs increased<br />
towards the end of 2019, before the<br />
outbreak of coronavirus in China,” says<br />
Downes. China is New Zealand’s biggest<br />
trading partner.<br />
“Any impact of the coronavirus on<br />
prices for our goods and services, mainly<br />
because of disruptions to global trade,<br />
could be reflected in the <strong>March</strong> <strong>2020</strong><br />
quarter,” says Downes.<br />
Wood export prices also rose in the<br />
December 2019 quarter, up 8.2%, partly<br />
recovering from falls in the previous two<br />
quarters.<br />
Illustration: Graph from Stats NZ<br />
Partly offsetting the rise in meat and<br />
wood export prices was a 2.4% fall in<br />
dairy prices.<br />
While volumes were up 14%, the value<br />
of dairy exports rose by only 11%.<br />
The fall in dairy prices was driven by<br />
an 11% fall in butter prices in the latest<br />
quarter.<br />
However, butter prices remain at<br />
historically high levels following strong<br />
price increases a few years ago. Overall,<br />
export prices rose 3.0% in the December<br />
2019 quarter.<br />
Wood export prices also rose in the<br />
December 2019 quarter, up 8.2%, partly<br />
recovering from falls in the previous two<br />
quarters.<br />
Partly offsetting the rise in meat and<br />
wood export prices was a 2.4% fall in<br />
dairy prices.<br />
While volumes were up 14%, the<br />
value of dairy exports rose by only 11%.<br />
The fall in dairy prices was driven by<br />
an 11% fall in butter prices in the latest<br />
quarter.<br />
However, butter prices remain at<br />
historically high levels following strong<br />
price increases a few years ago. Overall,<br />
export prices rose 3.0% in the December<br />
2019 quarter.<br />
Source: Rural News<br />
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