Primary Industries

Dairy prices fall as coronavirus outbreak takes toll on trade

Dairy prices have fallen again in the latest global dairy auction, as the coronavirus outbreak takes its toll on trade.

The average price at the overnight auction fell by almost 3 percent to $US3176 a tonne.

Following a 4.7 percent fall at the previous auction two weeks ago, it was the lowest price since January last year.

The price of wholemilk powder, which strongly influences the payouts for local farmers, fell by 2.6 percent to $US2966 a tonne, a six-month low.

China is a large buyer of New Zealand dairy products.

This article was originally published on RNZ and re-published with permission.

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