Fonterra Cooperative Group, the world’s biggest dairy exporter, has lifted its forecast milk payout to farmers by 50 cents in the 2014 season as global supply remains constrained and as a weaker local currency bolsters export returns. The Auckland-based company expects to pay $7.50 per kilogram of milksolids and an estimated dividend of 32 cents per share, it said in …
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NZ dollar falls on optimism stronger US economy may ease monetary supply
The New Zealand dollar fell as the greenback strengthened above 100 yen to a four-year high on speculation an improvement in the U.S. economy may bring forward an end to quantitative easing. The kiwi fell to 83.90 US cents from 84.56 cents at 5pm yesterday, having dropped as low as 83.51. The trade weighted index fell to 77.86 from 77.97. …
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