Fonterra announces milk pay-out price of NZ$6/kg

FXStreet (Bali) - Fonterra just announced its milk pay-out price to farmers for the 2014/2015 season, coming at NZ$6/kg, worse-than-expected.

The result is a negative input for the NZD, and is expected to take out more than NZ$ 4 billion out of the dairy sector, quite detrimental for the NZ economy, which relies strongly on the sector.