NZ seeks new dairy markets
MILK producers in New Zealand are increasingly alarmed at falling demand for dairy products in South East Asia.
The knock-on effects of the Asian economic crisis have already caused the world price for milk powder to slump by US$100/ t this year alone, says Neville Martin of the New Zealand Dairy Board (NZDB).
This means New Zealands unsubsidised farmers face a tougher-than-expected year, Mr Martin says. Drought in eastern parts of the country are forcing farmers to dry off their cows unusually early, he adds.
- Financial Times 17/03/98 page 37