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Fonterra profit soars as global milk price slumps

The low prices mean it pays less for milk, but hits the bottom line of its shareholder farmers

Fonterra dominates the dairy business in New Zealand where the sector accounts for about one-fifth of total exports and is considered crucial to the national economy.


NEW Zealand's Fonterra - the world's largest dairy cooperative - announced a 123 per cent rise in interim profit on Wednesday, but warned its farmers faced "unprecedented pressure" amid a slump in global milk prices.

Fonterra said that net profit for the six months to...

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