Lack of dairy regulation has insulated the economy from price shocks, says English

Wed, 22 Jul 2015

By Suze Metherell July 23 (BusinessDesk) - Light regulation in the New Zealand dairy industry has insulated the wider economy from the sharp decline in prices for the country's largest export commodity, according to minister of finance Bill English. Prices for whole milk powder, the country's key commodity export, have plunged this year and dropped an unexpectedly large 10.7 percent in in the GlobalDairyTrade auction last week, sending the kiwi dollar to six-year-lows. Dairy prices are now expected to remain lower for longer than previou...

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