NZ dairy sector still highly indebted, vulnerable to commodity price fall

Tue, 12 Nov 2013

By Paul McBeth Nov. 13 (BusinessDesk) - New Zealand’s dairy sector is still highly indebted and vulnerable to a fall in record high commodity prices and rising interest rates, according to the Reserve Bank. High levels of agricultural debt, which is heavily concentrated in the dairy sector, poses a risk to the stability of the financial system, deputy governor Grant Spencer said at today’s release of the central bank’s six-monthly financial stability report. The report warned farmers may take on more debt on the assumption of consistently h...

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