The reputation of China's domestic dairy industry has been badly damaged by production-related scandals and despite demand, farmers have turned to dumping milk and slaughtering cows to cut their losses.
Falling dairy prices dragged down New Zealand's producer prices in the quarter to the end of June, while the high New Zealand dollar pushed up capital goods prices, the government statistics agency announced Tuesday.
A slump in global dairy prices could threaten the pace of New Zealand's economic recovery, as farmers at the center of the country's pillar industry strive to pay down debt on diminishing incomes, commentators warned Wednesday.
A major Chinese dairy maker has refuted a media report alleging that it added toxic industrial gelatin to its yogurt products.
China's dairy enterprises, especially infant formula makers, are bracing themselves for intense rivalry with foreign counterparts following the country's new regulation to streamline imported dairy products.
New Zealand's terms of trade in goods in the December 2013 quarter were at a four-decade high for the second quarter running, thanks to the continuing boom in dairy exports, the government statistics agency said Monday.
Chinese consumers can expect higher dairy prices in December due to a shrinking supply of raw milk from the country's fragmented milk farms. Most domestic dairy companies put up prices last week, ranging from five to 20 percent. This was mainly in the low-end milk market.
New Zealand government Wednesday pledged to tighten its food safe regime, despite claiming it is already one of the best in the world
China Modern Dairy Holdings Ltd. and two private equity firms announced on Tuesday they would team up to build two large-scale raw milk dairy farms in east China's Shandong Province.
China Mengniu Dairy Co., Ltd. has signed a deal to buy Yashili International Holdings Ltd. for over 11 billion H.K. dollars (1.42 billion U.S. dollars), marking the most costly merger in China's domestic dairy sector, China Securities Journal reported Wednesday.
Myanmar leader in New Zeaalnd to build closer ties
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