Prices of dairy products fell for the first time in 10 GlobalDairyTrade auctions, led by the whole and skim milk powder as the volume on offer gained for a second session from a two-year low. The GDT-TWI Price Index fell 7.3 percent compared to the last sale two weeks ago, the first decline this year. The average winning price fell …

The New Zealand dollar dropped by more than half a US cent as weaker than expected private payrolls figures in the US eroded investors’ appetite for higher yielding assets. The kiwi may extend its decline after dairy prices sank in the latest auction GlobalDairyTrade auction. The kiwi fell to 84.92 US cents from 85.73 cents at 5pm in Wellington yesterday. …

Former Fonterra director Greg Gent has been appointed independent chairman of Pengxin NZ Farm Management; the company which oversees the jv between Shanghai Pengxin and state-owned Landcorp. The Gent appointment is a coup for Pengxin and its Landcorp partner. Gent told newzealandinc.com that it was important for New Zealand that the joint-venture was made to work smoothly. There are six other …