New Zealand Agribusiness March 2021

Here are the main highlights for some of New Zealand’s key commodities. The full report provides an overview of the developments to watch in the upcoming weeks.

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Report summary

• The production lull between the Northern and Southern Hemisphere, inclement weather and supply disruptions will support Oceania dairy prices in the next few months

• Beef farmgate prices expected to hold steady during March, with the potential for marginal price drops if climatic conditions and feed availability start to impact supply flows

• The seasonal increase in lamb supply is expected to put a degree of downward pressure on farmgate prices over the coming month, but find reason for optimism beyond the supply peak

• Channel distortion is likely to persist through 2021, with foodservice sales recovering only slowly in export markets

• Global fertiliser markets have erupted so far this year. It’s expected that higher global phosphate prices are here to stay until at least mid to late Q2.

  • Tim Hunt

    Head of RaboResearch Food & Agribusiness - Australia & New Zealand
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  • Emma Higgins

    Senior Analyst - Dairy
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  • Michael Harvey

    Senior Analyst - Dairy
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  • Angus Gidley-Baird

    Senior Analyst - Animal Protein
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  • Cheryl Kalisch Gordon

    Senior Analyst - Grains & Oilseeds
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  • Wesley Lefroy

    Analyst - Agriculture
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  • Charles Clack

    Commodity Analyst
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  • Dennis Voznesenski

    Analyst - Grains & Oilseeds, Animal Protein
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  • Blake Holgate

    Analyst - Animal Protein, Sustainability
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