Milk oversupply ... "Russia has banned imports, Chinese demand is weakening and limits on production have been removed. The result: a huge glut of milk."

CNN go on:

  • Milk is now cheaper than bottled water. A liter bottle of water costs around $1.50; a liter of milk $1.
  • wholesale milk prices have collapsed by about 20%
  • slump is a disaster for dairy farmers. Thousands protested in Brussels Monday

What to do?

  • The EU said Monday it will provide farmers with 500 million euros ($555 million) in emergency support to help them cope with the plummeting prices.

More at the link above, also here: Europe to give struggling farmers €500m in aid

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Low dairy prices are not a new story for the NZD.