New Zealand: New Zealand Fertilizer and Products

In 2022, New Zealand spent the most it has ever in one year on fertilizer imports, at almost NZ$1.5 billion (US$900 million). However, the total volume imported was 250,000 metric tons (MT), less than the historical average of 2.1 million metric tons (MMT). New Zealand is consistently one of the world’s largest exporters of dairy products and 6th for beef and veal. As a result, the country heavily relies on fertilizer inputs to maintain production. The softening of farm gate prices for farm produce and the increase in national interest rates by the Reserve Bank of New Zealand in the current market year (MY) has resulted in a significant downturn in expenditure on fertilizer. To date, imports in the first 10 months of 2023 are 23 percent down compared to last year on all products.