ASB has trimmed its milk price forecast to $4.70 per kilogram of milk solids following dairy product prices in the latest GlobalDairyTrade auction falling to the lowest level in more than five years. The GDT average winning price slid 3.1 percent to US$2,561 overnight, the lowest level since August 2009, and down from US$2,649 two weeks ago. Some 39,613 tonnes of …

SeaDragon, which manufactures fish oil for health supplements, has reported a $574,000 half-year loss, 362 percent down on the same period last year after difficulties securing raw material saw its factory underused. The Nelson-based company reported strong sales growth of 23 per cent to $2.6 million in the six months ending Sept. 30, ahead of the $2.4 million the company …

The New Zealand dollar touched a fresh seven-year high against the yen after Japanese prime minister Shinzo Abe called a snap election and said he would delay plans to hike sales tax to seek a mandate for economic reform after the country fell into recession. The kiwi reached 93.22 yen, its highest since July 2007, and was trading at 92.75 yen …