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For the first time since late 2009 dairy prices at Fonterra’s Global Dairy Trade-Trade Weighted Index (GDT-TWI) have slipped below the 10-year average after last night’s 6.4% fall at the latest online auction.
The FAO Food Price Index for April 2012 fell three points to 214, a drop of 1.4%. This was the first fall this year, but the index remains higher than it was prior to the 2008 international food crisis that first drove prices over the 200 threshold.
New Zealand horticulture exporters are likely to be to be handicapped by new restrictions on fruit and vegetable imports into Indonesia.
Fonterra has broken its record for the highest export month with 246,000 tonnes of dairy products loaded on ships during December boosting New Zealand’s economy by $1.3 billion for the month.
The Ministry of Agriculture and Forestry has released its half year update of the annual Situation and Outlook for New Zealand Agriculture and Forestry, commenting on a weakened outlook for primary sector trade
The global average coffee price has remained stable during November, maintaining close to the International Coffee Organisation composite indicator of 193.90 for October at 193.66.
The release of the Future of the New Zealand Food Industry report at the NZFGC conference Thursday, November 3 is a breakthrough for the sector.
Seeka Kiwifruit Industries has said it will be cutting jobs next season because of the lower expected crop due to Psa-V infection of its Bay of Plenty orchards. The company has made a voluntary redundancy offer to staff as a first step.
Two reports released recently gave measures of the farm sector’s healthy contribution to the national economy. Fonterra’s report on its impressive financial results and record payout for the year had more sizzle than sluggish GDP growth figures from the official statisticians.
The New Zealand Food Price Index continues to run at record high levels in spite of a slight decline during the month of August.
The predicted bumper Australian wheat harvest for the 2011-2012 season is set to deliver a cash windfall to Australian farmers, according to the latest information from the Australian Bureau of Agricultural and Resource Economics and Science (ABARES).
A new report launched in London has suggested that New Zealand’s economy could be an early casualty of an impending food market crash prompted by irresponsible speculation in food prices.
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