date:Dec 11, 2013
t the price it pays farmers at a record high NZ$8.30 per kilogram of milk solids. But it cut its estimated dividend, which is paid to outside investors in its sharetrading fund as well as farmers, by 70 percent to NZ$0.10 a unit, knocking its share price.
New Zealand farmers have been enjoying record high prices for their milk on buoyant demand for whole and skim milk powder as countries like China import increasing amounts to manufacture infant formula and food products.
But higher farmgate p