Reserve Bank governor Graeme Wheeler has reservations about New Zealand’s increasing concentration of exports into China, which now dominates foreign purchases of local agricultural products. Wheeler told Parliament’s finance and expenditure select committee in Wellington that dairy prices have climbed 50 percent this year, describing it as “a massive increase.” China takes about 25 percent of New Zealand’s dairy exports, …

Fonterra Cooperative Group’s largest unitholder is prepared to ride out some short-term pain in the expectation the world’s largest dairy exporter will produce better returns a few years down the track. Auckland-based Fonterra yesterday cut its dividend forecast to 10 cents a share from 32 cents while keeping the milk price at $8.30 a kilogram of milk solids, even though …

New Zealand food prices fell last month as lamb led a decline in meat and seasonal prices fell for fruit and vegetables. Food prices rose on an annual basis, suggesting inflation pressures may be emerging. Food prices rose 0.2 percent in November from October and rose 1.4 percent from a year earlier, according to Statistics New Zealand. Prices have fallen …