NEW ZEALAND: Fonterra predicts NZ$1bn drop in milk payout
New Zealand dairy giant Fonterra said yesterday [Monday] it expects "the most likely final payout" for next season to be NZ$4 (US$1.7) per kilogram of milk solids, down from NZ$5.3 per kilogram this season. This puts the payout from the dairy sector to the national economy at some NZ$4bn, down from the NZ$5.3bn it is expected to make this season. An average farmer will lose some NZ$91,000 in 2002-03.
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