Higher dairy prices won't bolster regional NZ overnight as farmers focus on reducing debt, Guy says

Wed, 14 Dec 2016

By Tina Morrison Dec. 15 (BusinessDesk) - The recent pick up in dairy prices back to profitable levels may take some time to flow through New Zealand's economy as farmers focus on paying down debt following the prolonged downturn, says Primary Industries Minister Nathan Guy. Fonterra Cooperative Group, the country's dominant milk processor, hiked its milk price forecast last month to $6 per kilogram of milk solids for the current season, which is above the $5.05/kgMS needed for most farmers to break even and compares with payouts of $3.90...

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