The Fonterra milk price, farmers and the NZ economy

When Fonterra announced their milk price for the upcoming season, Xero reached out to Mike Frew, Managing Partner for BNZ’s Waikato region, and Merv Gyde, Director at Te Awamutu accounting firm Gyde Wansbone about what this means for farmers and the wider New Zealand economy.

Yesterday, Fonterra set their opening milk price at $7.00 per kilogram of milksolids for the 2014/15 season. They also revised their forecast of the current season, which ends on Saturday from $8.65 down to $8.40.

Mike and Merv talk through the implications for both farmers and the economy in the video below.

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