Don't bank on dairy saving the day

Wed, 22 Apr 2020

New Zealand’s primary sector exports – dairy in particular – may help weather the covid-19 storm but a sharp fall in global growth coupled with a spike in unemployment could see demand go down the drain. “New Zealand has always been dependent on agriculture and is even more so now,” said Bank of New Zealand senior economist Doug Steel.Milk powder, butter and cheese currently make up about 25 percent of New Zealand’s merchandise exports, earning around $16 billion in the year to February. Data from...

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