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Fonterra cuts milk price forecast as glut persists

2016-03-07 22:54:13| Food - Topix.net

Four out of five dairy farmers in New Zealand will operate at a loss this season as the global slump in milk prices enters its third year. Fonterra Cooperative Group, the world's largest dairy exporter, cut its milk price forecast to a fresh nine-year low as oversupply continues to depress the global market.

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