RBNZ sees 44% bounce in whole milk powder in 2015

Thu, 11 Dec 2014

By Paul McBeth Dec. 11 (BusinessDesk) - The Reserve Bank expects whole milk powder prices to rise by about 44 percent next year as the slump in global prices this year prompts less competitive processors to scale back their production in the face of smaller returns. The central bank expects whole milk powder, which is New Zealand's dominant dairy export, to rise to US$3,200 a metric tonne by early 2016, from its current price of US$2,229/tonne as international producers who were lured by record prices last year are squeezed out by this ye...

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