New Zealand Cheese Melts to Lowest Price Since 2007: Chart

Cheese lovers, stock up. The price of a block of cheddar in New Zealand -- home to the world’s biggest dairy exporter -- has plummeted to the lowest level since September 2007. Global dairy prices have more than halved over the past two years amid a glut in supply, pushing down the price of the kitchen staple and helping drive New Zealand’s overall food costs down 1.3 percent last month, the biggest drop since December.

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