The volume and value of New Zealand’s meat product manufacturing sales fell slightly in the December 2012 quarter and there was also more sitting in stock, according the latest figures from Statistics New Zealand.
After adjusting for price increases and seasonal variations, the volume of total manufacturing sales rose 1.5 percent, while meat and dairy manufacturing sales volume fell 1.1 percent – following a large rise of 12 percent in the September 2012 quarter.
“While still an increase, this is something of a reversal from the previous quarter, when high meat and dairy manufacturing sales more than compensated for falls in other manufacturing industries,” says Statistics NZ’s industry and labour statistics manager Blair Cardno.
The latest fall reflects decreases in the volume of meat and dairy products exported as reported in the Overseas Trade Indexes (Volumes): December 2012 quarter (provisional). In this quarter, meat exports fell by 0.7 percent and dairy exports fell by 13 percent.
The value of sales for meat and dairy product manufacturing also fell by 4.4 percent, following a rise of 8.4 percent in the previous quarter, according to the figures.
The trend indicates that the volume of meat and dairy product manufacturing has risen over the last year, after a relatively flat period in 2011.
The volume of finished goods stocks, which is not seasonally adjusted) is 15 percent higher than the December 2011 quarter.