date:Jul 30, 2014
ng of June.
We have seen strong production globally, a build-up of inventory in China, and falling demand in some emerging markets in response to high dairy commodity prices. In addition, the New Zealand dollar has remained strong, Wilson said in a statement.
Fonterra's milk collection across New Zealand last season reached 1.584 billion kg of milk solids, up 8.3 percent from the previous season.
Fonterra chief executive Theo Spierings said in the statement that the cooperative's forecasts an