NZ terms of trade falls to lowest since March 2010 as dairy prices sink

Sun, 02 Sep 2012

Sept. 3 (BusinessDesk) - New Zealand's terms of trade fell to the lowest level since the first quarter of 2010, with the biggest contribution coming from the fourth consecutive quarterly slide in dairy prices. The terms of trade fell 2.6 percent in the three months ended June 30, according to Statistics New Zealand. That marked the fourth quarterly decline and exceeded the 2 percent drop forecast in a Reuters survey. Merchandise export volumes fell 0.4 percent against expectations of a 0.9 percent gain. Fonterra Cooperative Group, the world’...

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