These NZ food price figures released today give an interesting indication of the state of the NZ dairy industry. Overall grocery food prices decreased 2.9 percent in the year to July 2016, influenced by all the main dairy products decreasing, with cheese falling to its lowest price since October 2009.. Domestic retail prices are largely set by Fonterra but are usually slow to fully reflect falls in export prices.
- cheese (down 11 percent)
- fresh milk (down 3.2 percent)
- yoghurt (down 9.7 percent)
- butter (down 11 percent).
FY 17 Forecast:-), page-9
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