Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Tararua and Meadowfresh Milk Price Decrease


MEDIA RELEASE Tuesday 5th November 2002

Tararua and Meadowfresh Milk Price Decrease

The wholesale price for Tararua and Meadowfresh milk will reduce by approximately 6% from December 2.

Mainland Products Ltd CEO Geoff Norgate said today that while his company did not control retail prices he would expect to see a reduction in the shelf price of Tararua and Meadowfresh milk of approximately 10c per litre.

He said supermarket brands such as Signature, Basics and Pams, controlled by the large retail groups, took the lead earlier in September when they lowered milk prices throughout their chains nationally. Now branded milk was following suit.

“Supermarkets have a broader range of products and therefore a better ability to protect their profitability than most other businesses,” said Mr Norgate. “Because of this they were able to take a lead role in lowering the price of milk to consumers. It is unlikely that the supermarket brands would fall further.”

Mr Norgate said while the worldwide demand for New Zealand sourced dairy products continued to be strong, a slowing global economy had had an impact on export prices over the past nine months. This would have a flow on effect in the payout to New Zealand farmers and consequently would reduce the cost of the milk that Mainland buys.

“For the New Zealand economy this situation is not that ideal, even though Fonterra’s forecasted payout for farmers is still respectable when compared with a few years ago. However, the downside for farmers becomes an upside for New Zealand milk drinkers. We are pleased that we are able to pass on the benefit of this cost reduction to our customers and ultimately consumers,” Mr Norgate said.

Other Dairy products such as cheese and butter are under review, and there are likely to be downward movements in prices early in the new year.

Tararua is sold in the North Island and Meadowfresh in the South Island.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news