Strong value sales growth witnessed in 2022 and 2023 was fuelled by rampant inflation in the aftermath of the pandemic. With international and domestic supply chains severely disrupted as demand returned at pace following the removal of movement and travel restrictions, a consequence of this was higher costs for both producers and distributors alike, which were passed on to consumers.
The high rates of inflation that emerged towards the end of the review period have yet to subside in 2023. However, growth has at least stabilised with the official inflation rate holding at 6.
Cyclone Gabrielle, which struck New Zealand’s North Island in mid-February, created widespread damage to multiple orchards and crops just prior to the start of the harvest season. The affected areas included Hawke’s Bay, dubbed the “fruit bowl of New Zealand” as much of the country’s avocados, apples, kiwifruit and stone fruit are grown there.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See All of Our DefinitionsThis report originates from Passport, our Edible Oils research and analysis database.
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