New Zealand’s milk production for the year to fall 7%

Milk production is forecast to drop 7% year-on-year in New Zealand, according to the country’s main co-op, Fonterra.

CEO Theo Spierings said: “Our current milk collection forecast is 1,460m kilograms of milk solids, down 7% on last season, and this is constraining sales.”

The decline in milk collection is driven “predominantly” by higher rainfall in areas of the North Island.