The food products we're paying less for

Thursday, 25 July 2024

After a tough few years at the checkout, rising food prices are finally slowing down.

But some foods have dropped significantly in price from the year to end June 2024, according to the Statistics NZ selected price index.

So what are we paying less for than we were a year ago?

Lettuce

Lettuce had the biggest price drop in the year end to June 2024, with 1kg of the leafy green vege falling a huge 42.6%.

This was a stark contrast to June 2023, when it had increased 31.7% from June 2022.

The average retail price for 1kg of lettuce was $4.93 last month compared to $8.59 in June 2023.

In 2022 lettuce had a shocker of a time and was constantly in short supply thanks to poor weather. But thanks to good weather this season, supply had been great, bringing prices down.

Broccoli

Broccoli was close behind lettuce, with a year-on-year drop of 37.1%.

One kilogram of broccoli was $10.32 in June 2023 but that had dropped to $6.43 in June 2024.

The price drop in broccoli has been put down to a good season, where warm weather and little to no rain caused a bumper growth and huge supply.

Potatoes

Potatoes had always been a steady vegetable when it came to prices but two extreme weather events, Cyclone Hale and Cyclone Gabrielle, hit farmers when they were down.

In June 2023 a kilogram of potatoes was $3.35 and this had been slowly dropping throughout the year to $2.19 in June 2024, which was a price drop of 34.6%.

Tomatoes and Cabbage

Tomatoes and cabbage were hot on each others heels when it came to percentage decreased with a kilogram of tomatoes dropping 33.1% in a year and cabbage closely behind on 33%.

A kilogram of tomatoes was $15.14 in June 2023 and this had dropped to $10.13 in June 2024 - but reached a low of $4.36 in February.

Meanwhile, a kilogram of cabbage was $4 in June 2023 and had dropped to $2.68 in June 2024.

Tomatoes have long been a niggly fruit that fluctuates in price thanks to the seasons.

Exports of tomatoes to Australia were able to begin again in June after the export route was closed in 2021, after the pepino mosaic virus (PepMV) was detected.

The season just been had lead to an abundance of tomatoes and therefore an oversupply, which pushed prices down.

Cheese

A kilogram of mild cheddar cheese had decreased 27.2% in the year end to June 2024.

In June 2023 it cost $13.78 and this had decreased to $10.03 in June 2024, but it was cheaper in April by 2 cents, at $10.01.

The price drop in cheese was a flow on effect of global commodity prices for dairy have falling significantly since last year and it was now showing in retail prices.

Spencer Sonn, Woolworths New Zealand managing director, said it was a “relief” to see prices drop.

“Some winter produce is now 25% lower in price than this time last year,” he said.

“In our stores, pumpkin is down over 30% from last year, lettuce and brassicas are both down by over 25%, potatoes are down by over 15%, avocados are down 25%, onions are down 20% and kūmara is down by a whopping 45%”.