Dairy product is New Zealand #1 export.
Fonterra have revised their 2021/22 forecast Farmgate Milk Price range to $9.10 - $9.50 per kgMS
- from $9.30 - $9.90 per kgMS
Citing:
- a number of recent events which have resulted in short-term impacts on global demand for dairy
- in particular, the lockdowns in China due to COVID-19, the economic crisis in Sri Lanka and the Russia-Ukraine conflict
This reduces the midpoint of the range, which farmers are paid off, from $9.60 per kgMS to $9.30 per kgMS.
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At the margin a negative input for the kiwi $
