date:Sep 27, 2012
world, we saw record dairy production which was mirrored back here in New Zealand, said Fonterra chairman, Sir Henry van der Heyden.
Global dairy demand held up reasonably well but this ocean of milk obviously impacted on global commodity prices, with the GlobalDairyTrade (GDT) index reaching its lowest value in 34 months in May.
This contributed to a lower Farmgate Milk Price in the 2012 year, however, the impact of this decline on overall earnings for farmers has been eased a little by the m