December Market Bites: Monthly Supply & Pricing Update

Welcome to the December edition of Market Bites - your monthly snapshot of what’s happening across local and global food markets. As we head into the peak of summer, we’re seeing strong seasonal produce, steady protein supply, and some important shifts driven by currency movement and global harvest conditions. Here’s everything you need to know to stay ahead this month.

Imported Food Prices Under Pressure as NZD Falls

The New Zealand Dollar is weakening against major currencies, particularly the AUD, which has hit a 12-year low, ahead of an expected RBNZ rate cut. This is putting upward pressure on the cost of imported food across the board, contributing to ongoing 4.1% - 4.7% YoY food price inflation and broadly affecting prices throughout the foodservice and retail sectors.

Beef

• NZ Beef kill is now up and running. We are starting to see plenty of NZ Beef flow into our branches. Expecting Australian beef to continue coming into NZ and to remain on the general NZ scene to support local supply.

• NZ Beef pricing looks stable running into January.

• US tariffs (15%) removed on NZ beef into the US is not expected to have any real impact on pricing for us in NZ. However we need to watch next FTA round into Europe (and UK) come January 2026. This could impact us in not such a good way.

• We are seeing Beef demand remain strong despite the much higher prices.

Lamb

No real change here - Lamb pricing still facing upward pressure. NZD still trending weaker. Lamb schedule passed $11/kg for premium lambs (Schedule the farmgate price paid to farmers for his livestock by Meat Processors).Expect prices to continue to increasing. Lamb is now a very real luxury premium protein option.

NZ Pork

No change here. Pricing has been remarkably stable for us in Foodservice for the past 15 months and we do not expect change in the near future for our main lines.

Import Pork

• Pork prices are expected to remain stable over the next three months.

• No supply disruptions are anticipated in the pork market.

• Pork continues to be an affordable and reliable source of protein.
  

Poultry

Poultry pricing and supply remains steady.

In Season

• Stone fruit: apricots, cherries, peaches, nectarines (especially good buying in December)

• Berries: strawberries, blueberries, raspberries, blackberries

• Sweetcorn: just starting

• Tomatoes: strong supply, including heirlooms

• Globe artichokes

• Herbs: dill, chervil, sage, chives (good supply through December)

• Jersey Benne potatoes

• Asparagus available until January

Imports

• Imported kiwifruit until March harvest

• US/California lemons throughout Dec/Jan

Short / Tight Supply

• All apples (tight until new season)NZ navels

• Kumara (Will potentially experience shortages)

• Potatoes, pumpkin, onions (tight before new season)

Out of Season

• Buttercup squash

• Butternut squash

• NZ garlic

• NZ Gold kiwifruit

Coming Soon

• NZ melons (rock, watermelon, honeydew) - end of December

• Plums - after December

• NZ pears - after December

• Canola oil prices are expected to remain stable amid abundant global supply and weak demand from China.

• Canada’s harvest is nearly complete and up about 27% year-on-year, with stocks nearly double last year’s level.

• While rising crude oil prices provide limited upward pressure, overall market conditions suggest prices will stay within a tight range.

White Rice

• Global white rice prices have fallen to multi-year lows as India re-enters export markets following eased curbs.

• Record-high stocks of over 48 million tonnes and strong production keep exportable volumes high, even as global demand remains soft and exports dipped nearly 60% in April–May 2025.

• With India targeting new markets and export volumes expected to rise over 10% in FY26, the supply situation remains robust.

Frozen Vegetables

Spinach Shortage: Late-season spinach crops in Belgium were severely affected by waterlogged fields, confirming supply challenges for Q1 2026.