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Dairy price rebound driving up New Zealand producer prices

Xinhua, November 21, 2016 Adjust font size:

Rising dairy prices have pushed up New Zealand producer prices in the quarter ending September, the government statistics agency said Monday.

Producer output prices were up 1 percent in the September quarter while producer input prices rose 1.5 percent, according to Statistics New Zealand.

The prices received by dairy cattle farmers were up 28 percent and those paid by dairy product manufacturers were up 22 percent, making them key influences in the increase.

"Higher farm-gate milk prices contributed to the September 2016 quarter rises," business prices manager Sarah Williams said in a statement.

If farm-gate milk prices had remained constant during the September quarter, both producer output and input prices would have risen 0.3 percent. Endit