New Zealand commodity prices fell for a second month in June, led by dairy products and beef, though the slide in the kiwi meant prices actually rose in the local currency. The ANZ Commodity Price Index fell 3.7 percent last month, following a 1.6 percent decline in May. Whole milk powder declined 9 percent and skim milk powder fell 8 …

Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. The Auckland-based cooperative expects to save an annual $5 million in operating costs from a new dry store at the Waikato site, where its base capacity it at just 60 percent of standard season …

The New Zealand dollar edged up as investors increased their holdings in the local currency after a 6.7 percent slide last quarter amid expectations super-loose monetary conditions in the US will end this year. The kiwi rose to 78.01 US cents from 77.70 cents at 5pm in Wellington yesterday. The trade-weighted index increased to 73.98 from 73.75 yesterday. The New …