New Zealand Milk Supplies Seen Slowing on Drought, Rabobank Says
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Milk production in New Zealand, the world’s biggest exporter, will continue to slow as the most widespread drought in at least three decades curbs supplies, according to Rabobank International.
Supplies may be as much as 15 percent to 20 percent below a year earlier through the third quarter, the bank said in a report e-mailed today, without giving a specific forecast. Production growth may be below 2 percent in the second half of 2013, it said.