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 'Thank' the government: NZ rural suicides have increased since the dairy bust kicked in

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RR Phantom

RR Phantom

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'Thank' the government: NZ rural suicides have increased since the dairy bust kicked in Vide
PostSubject: 'Thank' the government: NZ rural suicides have increased since the dairy bust kicked in   'Thank' the government: NZ rural suicides have increased since the dairy bust kicked in Icon_minitimeSun Sep 27, 2015 3:21 am
As Chinese grew wealthier while their economy raced ahead, dairy farmers almost 10,000 kilometres away in verdant New Zealand felt like they'd won the lottery.

They were getting record prices for their milk and it seemed there was no slaking China's thirst for premium New Zealand infant formula, especially after a tainted milk powder scandal made Chinese shoppers wary of local brands.

Now, it's as if farmers have discovered the lottery ticket wasn't valid. A world milk glut and a decline in Chinese demand for imported dairy products have sent prices down by 50 per cent. Many farmers are borrowing to stay afloat and rural suicides have increased.

Dairy exports in the year ended June totaled $NZ12 billion ($A10.63 billion), down from nearly $NZ16 billion a year earlier. Dairy trade to China has proved particularly volatile, rising from $NZ2.8 billion in 2013 to $NZ6 billion last year, then plunging to $NZ2.3 billion this year.

https://au.finance.yahoo.com/news/nz-dairy-bust-shows-far-020015227.html
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'Thank' the government: NZ rural suicides have increased since the dairy bust kicked in

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