October 7, 2008

Fonterra New Zealand lowers dairy product prices

Fonterra Brands New Zealand has confirmed that it will lower the price of its dairy products in the coming months.

Fonterra Brands New Zealand, which sells about half the dairy products in New Zealand, says that while global dairy commodity prices remain well above traditional levels they are softening and this will flow through to the prices it charges its customers for products such as cheese and butter.

Peter McClure, brands managing director for Fonterra said that while they do not set retail prices, the prices they charge their customers will fall and they expect that to flow through to the shopping aisle.

He added that though it may take some time, overall, prices will drop.