New Zealand: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in New Zealand

The New Zealand lucerne meal and pellets market declined to $X in 2021, with a decrease of -8% against the previous year. In general, consumption saw a pronounced contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in New Zealand

In value terms, lucerne meal and pellets production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 24%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports from New Zealand

Lucerne meal and pellets exports from New Zealand surged to X tons in 2021, increasing by 28% against the previous year's figure. Over the period under review, exports, however, showed a perceptible contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 110%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports surged to $X in 2021. In general, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 94%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for lucerne meal and pellets exports from New Zealand, with a 94% share of total exports. Moreover, lucerne meal and pellets exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was taken by New Caledonia (X tons), with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-21.9% per year) and New Caledonia (-8.0% per year).

In value terms, Japan ($X) remains the key foreign market for lucerne (alfalfa) meal and pellets exports from New Zealand, comprising 83% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 6.5% share of total exports. It was followed by New Caledonia, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-22.7% per year) and New Caledonia (+9.1% per year).

Export Prices by Country

In 2021, the average lucerne meal and pellets export price amounted to $X per ton, declining by -3.4% against the previous year. In general, the export price recorded a mild decrease. The growth pace was the most rapid in 2020 an increase of 20%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports into New Zealand

In 2021, purchases abroad of lucerne (alfalfa) meal and pellets increased by 12% to X tons, rising for the third year in a row after two years of decline. In general, imports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 987%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, lucerne meal and pellets imports soared to $X in 2021. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 2,215%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Australia (X tons) constituted the largest lucerne meal and pellets supplier to New Zealand, with a 83% share of total imports. Moreover, lucerne meal and pellets imports from Australia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia totaled +149.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+42.0% per year) and China (0.0% per year).

In value terms, Australia ($X) constituted the largest supplier of lucerne (alfalfa) meal and pellets to New Zealand, comprising 70% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +123.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and the United States (+50.6% per year).

Import Prices by Country

In 2021, the average lucerne meal and pellets import price amounted to $X per ton, growing by 22% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lucerne meal and pellets import price increased by +70.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 113%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.0%).

Source: IndexBox Platform

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