Not Out of the Woods Yet
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
Troubled Canterbury milk processor Synlait has received a boost with Chinese authorities giving the company the green light to manufacture and export infant formula for the next four years.
Fonterra has established its fifth application centre in China, but unlike the other four, the newest one is focused on beverage applications.
China's reopening and changes in Chinese consumer behaviour is expected to provide business opportunities for beef exporters but also generate volatility in global markets.
There are signs that the Chinese economy is rebounding after Covid-19, but dairy farmers may need to wait a little longer to reap the full benefits from their biggest market.
New Zealand's second largest milk processor has lowered its milk price forecast following a prolonged decline in global dairy prices.
China's economy could determine how milk prices trend this year, says NZX dairy insights manager Stuart Davison.
The Meat Industry Association (MIA) says it is closely monitoring the economic situation in New Zealand’s major export meat market, China.
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
OPINION: Get offside with New Zealand First leader Winston Peters at your own peril.