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18 Jun 2021 5:22
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  •   Home > News > Rural

    A weaker New Zealand dollar is a boon for farmers

    A weaker New Zealand dollar is a boon for farmers, offsetting recent drops in Fonterra's dairy payout


    Fonterra
    Fonterra
    ASB Rural Economist Nathan Penny says dairy production's also likely to be up over the season.

    Exporters have benefited from a fall in the dollar - from 74 US cents to 65 - this year.

    Penny says that'll make up for slightly lower dairy price - but things are still looking fine.

    He says they've forecast the payout will be six-dollars 50, which will mean the majority of farmers are still making money.

    © 2021 Newstalk ZB, NZCity

     Other Rural News
     16 Jun: Dairy prices have dropped 1.3 percent, at Fonterra's latest Global Dairy Trade auction overnight
     26 May: Fonterra farmers believe this season's milk price won't budge much from a new midpoint of seven dollars and 55 cents
     06 May: Dairy farmers have six months to decide on a capital restructure for Fonterra
     05 May: Hopes Fonterra will streamline how farmers buy and sell units
     05 May: The country's largest company is about to make a major announcement on its capital structure
     21 Apr: A blip in international dairy prices isn't rattling Fonterra's boss
     21 Apr: Dairy prices have dipped at Fonterra's latest Global Dairy Trade auction overnight
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