The
overnight drop in milk prices shows New Zealand’s
overreliance on the dairy industry puts our economy in a
vulnerable position, says Acting Labour Leader David
Parker.
“Dairy prices fell 7.3 per cent overnight and
have almost halved since February. This is bad news that
will have knock-on effects for the rest of the
economy.
“The figures speak for themselves. Other
industries such as export manufacturing are in relative
decline. Commentators report that the dairy industry faces a
prolonged downturn with other countries now producing their
own milk powder leading towards a global
surplus.
“Economic commentators have said that
National’s weakness is not addressing the long-term
challenges we face. These are problems that won’t go
away,” says David
Parker.
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