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Letter From Wellington
How the once humble butter became ‘yellow gold’ in New Zealand
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In Wellington, butter costs NZ$8.60 (S$6.40) for a 500g block, a nearly 50 per cent hike from a year ago, and more than double the price a decade ago.
PHOTO: ONG HUI FANG
Follow topic:
- New Zealanders face high butter prices despite being a top dairy exporter.
- High butter prices are driven by global market forces, with auction prices peaking at US$7,992 per tonne in May 2025.
- Fonterra is selling consumer brands to Lactalis for NZ$4.2 billion, raising concerns about the future identity and price of New Zealand butter amid rising food inflation.
AI generated
WELLINGTON - During a recent trip back to Singapore, my friends complained about how inflation had driven up food prices at traditional breakfast joints such as Ya Kun Kaya Toast.
Living in New Zealand and often making my own kaya toast, I could instantly relate to their experience, as the ingredients that go into the Singapore staple have become costlier. And the real pain for me comes from the thick slab of butter that goes into it.
