Dairy is New Zealand’s number one export.
Fonterra has revised its farm gate milk price range for 2021/22 to $9.10 – $9.50 per kgDM
- from $9.30 to $9.90 per kgDM
- a number of recent events that have had short-term impacts on global demand for dairy products
- in particular, the lockdowns in China due to COVID-19, the economic crisis in Sri Lanka and the Russian-Ukrainian conflict
This reduces the midpoint of the range, which farmers are paid, from $9.60 per kgDM to $9.30 per kgDM.
At the margin a negative entry for the kiwi $