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 …

New Zealand’s house sale numbers unexpected fell in November from a year earlier as the Reserve Bank’s restrictions on low equity lending appear to have snuffled out some buyers seeking cheaper properties. The number of houses sold in November fell 6.6 percent to 6,691 from the same month a year earlier, and were up 2.7 percent from October, lagging the …