date:Aug 07, 2014
aw milk production bounce back after droughts.
For top exporter New Zealand, known as the Saudi Arabia of milk, the fall in dairy prices represents a significant economic hit.
After paying farmers a record milk price last year, Fonterra now expects to cut its payout by 29 percent for the current season, dealing a $4 billion blow to the country's agricultural-based economy.
Analysts and industry sources however expect prices to recover from current levels as Chinese inventories are worked thro