New Zealand’s meat export prices hit a record high for the December 2019 quarter, boosting overall export prices, according to Stats NZ.
But that number that doesn’t yet reflect the toll coronavirus may have had on the country’s exports since the outbreak began.
China, where Covid-19 was first encountered, is New Zealand’s biggest trading partner.
While many industries around New Zealand are feeling the brunt of the outbreak, Bryan Downes of Stats NZ said the impact the virus has had on New Zealand’s export prices won’t be known until the March quarter.
“Exports of meat and logs increased towards the end of 2019, before the outbreak of coronavirus in China,” said Mr Downes.
”Any impact of the coronavirus on prices for our goods and services, mainly because of disruptions to global trade, could be reflected in the March 2020 quarter,” he said.
Meat volumes rose 3.2 per cent, and values rose 12 per cent in the December 2019 quarter.
Meanwhile, the rise in meat and wood export prices for the quarter was partly offset by a 2.4 per cent fall in dairy prices, according to Stats NZ.
While volumes were up 14 per cent, the value of dairy exports rose by only 11 per cent.
The fall in dairy prices was driven by an 11 per cent fall in butter prices in the latest quarter.
Overall, export prices rose 3.0 per cent in the December 2019 quarter.
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