Global dairy glut knocks earnings of New Zealand farmers
date:Jul 30, 2014
anything to do with food scares either. It simply reflects a near perfect production season in Australasia, North America and Europe, said Hoggard.

The payout comes on top of other bad news for the agricultural sector, including interest rates rising by a full percentage point to 3.5 percent since March and the stubbornly overvalued New Zealand dollar, although the dollar dropped to a seven-week low after the news on Wednesday.

In a report last month, the Ministry for Primary Industries warned
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