Market for Butter
New Zealand is known for its butter worldwide because of the use of fresh milk associated of in the production of butter (Anchor, 2009). In addition, the green pastures and environment of New Zealand encourages consumers worldwide to consume NZ butter.
New Zealand plays a large part worldwide in the butter market because most countries produce butter that is consumed domestically. However, most of the butter produced in New Zealand is exported which makes up 40% of the market of butter traded internationally (IUF, 2011). Butter is one of the products listed to have the highest value of exports and makes up 25% of goods that are exported (Statistics New Zealand, 2013). The volume of butter exported has virtually tripled from the year 1992 to 2012, as illustrated in figure 1 (Statistics New Zealand, 2013). The significant increase in those twenty years was due to the increase in the international demand (Statistics New Zealand, 2013).
Consumers of New Zealand butter consists of both national and international consumers such as food companies, bakeries, restaurants, airline caterers, supermarkets and hotels (Canary Enterprises, n.d.). However, a larger portion of New Zealand butter is exported worldwide and those top 10 markets are shown below in figure 2.
By Arwa Al-Bahadly
Figure 2
Figure 1