Jacqueline Rowarth: Dairy NZ director on dairy prices crashing to lowest level in five years at the GDT auction
Global dairy prices plunged by 7.4 percent overnight at the Global Dairy Trade auction.
Whole Milk Powder - a key driver for Fonterra's prices - dropped 10.9 percent, the lowest level in nearly 5 years.
Dairy NZ director Jacqueline Rowarth says this decline is partially led by softening demand from China amid Covid-19 restrictions.
"This has been a game that has been played before, it's very difficult to tell what's going on in China. We love them as a market, but in terms of customers, it can be very challenging."
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