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10 Dec 2019 15:09
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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.

    © 2019 Newstalk ZB, NZCity


     Other Rural News
     04 Dec: Dairy prices have fallen for the first time in three months
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     06 Nov: Global dairy prices have risen 3.7-percent at Fonterra's latest overnight auction
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     18 Oct: Trouble at Fonterra, but not of the financial kind this time
     17 Oct: Emergency services are trying to establish what caused a chemical explosion at a Fonterra plant north of Whangarei
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