date:Jul 03, 2015
iscount at around 3.5%.
New Zealand invested heavily in drying capacity to produce whole milk powder when Chinese demand was booming.
Now, with Chinese demand ebbing, whole milk powder is oversupplied.
Exposed industry
Dairy prices have also been affected by exchange rates, as New Zealand, the worlds largest dairy exporter, sees its currency to a five-year low against the greenback.
The New Zealand dollar has suffered from a low central bank rate, and a run of poor economic data encouraged