Explainer: Why have New Zealand butter prices gone up – and when will that change?

In New Zealand, the rising cost of dairy products, particularly butter, has become a significant concern, with prices nearly doubling in the past 14 months; a 500g block of butter now costs $8.60, up from $4.49 last year. Finance Minister Nicola Willis is engaging with Fonterra’s CEO to understand the factors contributing to these escalating prices amidst the country’s substantial dairy industry.

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