Milk price halves: A $7b economic black hole
Global milk prices have halved since the peak last year, creating an economic black hole of almost $7 billion that will suck in regions reliant on dairy, crucial industries and the Government’s books, says Labour’s Finance Spokesperson Grant Robertson.
“The economic black hole from the fall in milk prices is getting bigger and bigger. Since the February 2014 peak, prices have fallen 51 per cent. That will see a large fall in the Fonterra milk payout to farmers.