LIC must be agile in face of change: chairman
New Zealand's dairy industry is vulnerable to the same disruption that other industries have experienced in recent years from new technology and innovation, LIC chairman Murray King says.
Dairy
Some cheer for dairy sector
Some cheer for dairy sector
An embattled dairy sector has finally received some good news with the first increase in dairy prices for the year - but global supply still remains strong.
Big gain in dairy product prices
Big gain in dairy product prices
Dairy product prices posted the biggest gain in five months in this week's GlobalDairyTrade auction as international dairy prices remain very high.
Cash cows to boost economy
Cash cows to boost economy
The dairy sector is now rivalling the construction sector in boosting economic growth for the coming year, BNZ economist Doug Steel says.
Dairy driving terms of trade higher
Dairy driving terms of trade higher
New Zealand's terms of trade are expected to hit a 40-year high later this year thanks to surging world dairy prices.
High dairy prices lead recovery
High dairy prices lead recovery
High dairy prices helped push the country's terms of trade measure up in the three months ended March, with economists now predicting the measure will spike 7% in the June quarter.
Drought cost offset
Drought cost offset
Though the widespread drought has caused milk production to plummet and resulted in a record sheep and beef kill, economists have signalled the net cost to the economy could be ''close to zero'' - thanks to global dairy price increases.
Milk powder auctions providing dairy outlook buoyancy
Milk powder auctions providing dairy outlook buoyancy
Dairy prices continued to accelerate in the latest GlobalDairyTrade auction, as dry conditions in the North Island squeeze milk production.
Demand for dairy despite DCD scare
Demand for dairy despite DCD scare
Moves by Fonterra and the Ministry of Primary Industries following the agrichemical scare appear to have largely assured markets that New Zealand dairy products are safe, Westpac economist Nathan Penny says.
Dairy prices continue to increase
Dairy prices continue to increase
Dairy prices have continued a good start to the year, increasing 1.1% on a trade-weighted basis in the GlobalDairyTrade auction this week.
Trade deficit continuing to widen
Trade deficit continuing to widen
Dairy exports lifted strongly in November but that was not enough to stop a further deterioration in New Zealand's merchandise trade figures.
Dairy exports to China up 27% for 10 months
Dairy exports to China up 27% for 10 months
New Zealand dairy exports to China for the 10 months to October have virtually matched full-year 2011 exports, with two months still to go.
More cows, more milk produced
More cows, more milk produced
New Zealand's milk production leaped 11.3% last season, going down as the most productive on record.
Dairy pushes up commodities index
Dairy pushes up commodities index
An increase in global dairy prices has been the catalyst for a turnaround in the ANZ commodity price index.
Acquisition would lessen competition, dairy co-op says
Acquisition would lessen competition, dairy co-op says
Westland Milk Products believes Fonterra's acquisition of New Zealand Dairies Ltd's factory at Studholme would have "far-reaching implications" for the wider New Zealand dairy industry.
Extra milk from EU not seen as threat to sector
Extra milk from EU not seen as threat to sector
New Zealand's dairy sector has little to fear from an estimated 9 billion additional litres of milk expected to flood the global market once European dairy quotas are fully lifted in 2015, Rabobank senior global dairy analyst Kevin Bellamy believes.
'Significant milestone' for dairymarket
'Significant milestone' for dairymarket
NZX Dairy Futures describes the achievement of 5000 lots traded as a "significant milestone" in the growth of the global dairy risk management tool.
Westland Milk returns second-highest profit
Westland Milk returns second-highest profit
Independent co-operative dairy company Westland Milk Products has announced its second-highest profit on record.
Problems with milk pickup
Problems with milk pickup
An estimated 9.5 million litres of milk has been disposed of as treacherous road conditions affected Fonterra's collection throughout New Zealand over the past two days.
Cheese, butter price drop
Cheese, butter price drop
Fonterra Brands New Zealand has responded to pressure and confirmed it will reduce butter and cheese prices next month in line with international price decreases, after separate reports put the dairy giant's pricing under close scrutiny.