NZ dairy farmers strong enough to weather one bad season, RBNZ's Spencer says

Wed, 12 Nov 2014

By Paul McBeth Nov. 12 (BusinessDesk) - New Zealand's dairy farmers have strong enough balance sheets to cope with one season of low payout, but could struggle if they have to tighten their belts for longer, according to the Reserve Bank. The 48 percent slump in global dairy prices this year, which led Fonterra Cooperative Group to lower its forecast payout to farmer-suppliers to $5.30 per kilogram of milk solids,put the Reserve Bank on notice when assessing risks to the country's financial system, according to the regulator's six-monthly...

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