According to the latest research from ANZ Bank, the price of New Zealand dairy products has fallen 43% year-on-year from last November.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The bank said dairy prices tumbled for a third consecutive month last month, dropping 13% over the four-week period.
At the end of November, dairy giant Fonterra said that it sees slowing global economies and declining consumer confidence reducing demand for dairy goods through to the end of its fiscal year in mid-2009.
The cooperative cut its forecast payout to its 10,200 farmer-owners by NZ$0.60 (US$0.32) to NZ$6 per kilogram of milk solids, stating that prices of internationally traded butter, milk and cheese have fallen by about 42% from a year ago.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
