New Zealand is experiencing 'butter madness' as domestic butter prices have surged 65% in the past year, despite the country being the world's largest dairy exporter. This has led to consumers driving long distances for cheaper butter, ordering from Australia, churning their own cream, and bakeries facing closure or importing alternatives.
Butter madness: New Zealanders turn to churning as price of dairy staple soars
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TL;DR: Key points with love ❤️New Zealand is experiencing 'butter madness' as domestic butter prices have surged 65% in the past year, despite the country being the world's largest dairy exporter. This has led to consumers driving long distances for cheaper butter, ordering from Australia, churning their own cream, and bakeries facing closure or importing alternatives.
Trending- 1 Year to March: Domestic butter prices surged 65%.
- 2 Recently: People queuing at Costco, Kaleb Halverson started a side-hustle, Leithfield School used butter for fundraising, bakeries began importing.
- Increased cost of living for New Zealanders
- People resorting to unusual measures to acquire butter (e.g., cross-country drives, home churning)
- Bakeries facing financial difficulties and importing cheaper alternatives
- A 'double-edged sword' for the economy (good for exports, tough for domestic consumers)
What: Domestic butter prices in New Zealand have surged by 65% in the past year, leading to various coping mechanisms among consumers and businesses.
When: In the year to March (price surge figures), this time last year (comparison point).
Where: New Zealand (country-wide), Auckland (Costco queues), Taranaki (Kaleb Halverson's base), Canterbury (Leithfield School), Southland (Kayes Bakery).
Why: Global supply problems and high demand for New Zealand's dairy exports are driving up local prices, as 95% of dairy products are exported, making domestic prices dictated by the international market.
How: Consumers are driving cross-country, ordering from Australia, or churning their own butter. Schools are fundraising with butter, and bakeries are importing cheaper alternatives or raising prices.