Update GDT dairy volumes sink to 2-year low as drought hits Fonterra farmers

Wed, 20 Mar 2013

(Adds Westpac comment in fourth paragraph) By Kristen Paterson March 20 (BusinessDesk) – The volume of dairy products offered in the latest GlobalDairyTrade auction fell to the lowest level in almost two years as drought in the North Island curbed milk production. Fonterra Cooperative Group indicated to the market in late January that the volume of product being placed on the GDT was likely to decline over the coming months as it neared the end of the season, said Gary Romano, managing director NZ Milk Products. “The drought has impacted t...

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