PGG Wrightson, the rural services firm controlled by China’s Agria Corp, lifted its annual earnings outlook as second-half trading comes in ahead of expectations, but warned weak farmer confidence may weigh on future sales. The Christchurch-based company expects annual operating earnings before interest, tax, depreciation and amortisation to be between $66 million and $69 million in the year ending June 30, above …

The Commerce Commission has released details of the scope of its inquiry into whether Fonterra Cooperative Group’s 87 percent of New Zealand’s milk pool gives it too much market dominance. The review is required under the Dairy Industry Restructuring Act 2001, when Fonterra was established, which sets rules for supply to other milk companies and anticipates those DIRA provisions be phased …

A slow recovery in global milk prices that’s weighing on the local dairy sector is making the Reserve Bank nervous, with the prospect of another sub-standard season threatening New Zealand’s national income. Global dairy prices halved last year as Chinese buyers scaled back their activity after stockpiling in 2013, and milk processors have pared back their expected payments to their farmer …