Fonterra today celebrated the official opening of its new slice on slice cheese expansion at Eltham.

New Zealand agricultural companies were able to pitch their products and services directly to potential China partners in Auckland last week.

Fonterra chief executive Theo Spierings says the long term fundamentals for global dairy remain positive.

Fonterra's new-season forecast farmgate milk price is "conservative" but the co-op expects the market to rebalance within 6-12 months, says Fonterra chairman John Wilson.

The dairy industry is not cashing in on global demand for organic milk products.

Meantime, the Hound would never insinuate that Mr McCarthy is a racist or a xenophobe.

The high volume of short second shears eased slightly at the latest NZ Wool Services International's auction compared to the last North Island auction on May 12, says chief executive John Dawson.

Fonterra has announced an opening forecast farmgate milk price of $4.25/kgMS for the 2016/17 season, an increase of 35 cents on the forecast for the current season.

Gold kiwifruit has transformed the industry in the last 15 years, says Zespri chief operating officer Simon Limmer.

Three or four years ago Zespri found the business environment in China challenging.