New Zealanders spend 20 million NZD on milk

New Zealanders spend 20 million NZD on milk

(NZweek) – According to a survey report of dairy industry, New Zealanders pay 195 million to Fonterra every year.

The report shows that due to the rise of milk price, the annual consumption of NZ customers and some dairy companies in Fonterra amounts to 195 million NZD.

The reported has been submitted to NZ Commercial Committee to investigate the price rise of dairy products after receiving an accusation of a high dairy price from relevant sectors.

Meanwhile, the report has also been submitted to Trade Dedicated Committee of the Congress to make an exploration on the price of dairy products in the domestic market.

However, relevant personnel of Fonterra suggested that the controversy of milk price was caused by other milk processing manufacturers; some are foreign state-owned enterprises. Most processing enterprises aren’t the suppliers of domestic milk, but they want to purchase milk from New Zealand at a low cost. Thus if the domestic milk price is too high, many enterprises will try to give up the milk export and turn to the domestic milk market.