Dairy doldrums keep Reserve Bank nervous

Wed, 10 Jun 2015

By Paul McBeth June 11 (BusinessDesk) - A slow recovery in global milk prices that's weighing on the local dairy sector is making the Reserve Bank nervous, with the prospect of another sub-standard season threatening New Zealand's national income. Global dairy prices halved last year as Chinese buyers scaled back their activity after stockpiling in 2013, and milk processors have pared back their expected payments to their farmer suppliers as a result. The Reserve Bank today cited that weak outlook in today's monetary policy statement as t...

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