NZ no longer has global dairy market to itself as rivals challenge on cost, supply, English says

Fri, 04 Mar 2016

By Tina Morrison March 4 (BusinessDesk) - New Zealand no longer has the international dairy market to itself as other countries step up production, and the industry needs to cut costs to cope with a lower price environment, Finance Minister Bill English said. Dairy prices have slumped below the cost of New Zealand production since hitting a record high in the 2013/14 season as increased supply from New Zealand, Australia, Europe and the US combined with lacklustre Chinese demand and an import ban imposed by Russia. Economists expect weak...

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