Export concentration into China ‘a concern’, RBNZ’s Wheeler says

Thu, 12 Dec 2013

By Paul McBeth Dec. 12 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has reservations about New Zealand’s increasing concentration of exports into China, which now dominates foreign purchases of local agricultural products. Wheeler told Parliament’s finance and expenditure select committee in Wellington that dairy prices have climbed 50 percent this year, describing it as “a massive increase.” China takes about 25 percent of New Zealand’s dairy exports, putting a “high concentration” in one part of the world, he said. “One thing t...

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