Fonterra Cooperative Group  had to set the benchmark for a competitive farmgate milk price, former director Jim van der Poel told the diary exporter’s annual meeting in his exit speech. His comments came after shareholders raised concerns over the reduced forecast milk payout for the 2015 season. The forecast farmgate milk price it pays farmers was slashed in September from …

The New Zealand dollar gained after the Reserve Bank’s report on the strength of the nation’s financial system reminded the market that the central bank is still in a tightening cycle, and will continue to lift interest rates when necessary. The kiwi rose to 78.24 US cents at 5pm in Wellington from 78.09 cents at 8am and 77.48 cents yesterday. The …

The New Zealand dollar soared to the highest in more than seven years against the yen on reports Prime Minister Shinzo Abe will call a snap election, seeking a mandate for further economic reforms including an increase in sales tax. The kiwi touched 90.33 yen, its highest level since October 2007, and was trading at 90.21 yen at 8am in Wellington, from 89.06 …