Dec 9, 2017
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Dairy prices put pressure on NZ banks
Dairy prices put pressure on NZ banks
WELLINGTON: An international credit-rating agency says a second year of low milk prices will put pressure on New Zealand banks as farmers struggle with rising debt.
Fonterra last week lowered its forecast milk payout for the current season to $4.40 a kilo of milk solids, and its opening price for the new season is $5.25, below the break-even point for many farms.
Fitch Ratings says if dairy…
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