Source: MIL-OSI Submissions
Increasing cost of imports helps push up food prices – Media release
31 March 2022
Note: This article is primarily concerned with the prices of commodities which are either food, or inputs into food production. Except where explicitly stated, the prices referred to are the prices of the goods at point of import, which are derived from the stated volume and value of import entries. These should not be confused with retail or wholesale prices paid by consumers.
The rising costs of input commodities in the initial months of 2022 are a large contributor to high domestic food prices, Stats NZ said today.
Imports of petroleum and petroleum products, needed to fuel the domestic food supply chain, have increased 81 percent across January and February 2022, when compared to the same period in 2021. Less visible, but equally important to production, the same period has seen large increases in the imports of food wastes (used as animal fodder), up 39 percent; fertilisers, up 161 percent; and mechanical machinery (used in sectors related to food production), up 14 percent.
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