New Zealand's statistics department Stats NZ stated on Monday that the prices of butter, milk and cheese manufacturers have increased 8.7 percent in June quarter of the current year in comparison with the March quarter, after having decreased in the last 2 quarters, according to Xinhua.
Manufacturers of dairy product got higher prices for products like butter, cheese, and milk powder in the June 2019 quarter. Jointly, the output prices for these products went up 8.7 percent from the last quarter, the highest rise in over two years.
Melissa McKenzie, prices, accommodation, and construction statistics manager, said that "The rise in prices dairy product manufacturers receive is consistent with global dairy auction prices increasing in late 2018 and early 2019".
She also added that "It can take time for prices set at global dairy auctions to flow through to producers' prices, and there can be a further lag before consumers see price changes".