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New Zealand (NZ) dairy companies like Synlait and a2 Milk took a hit as dairy prices and demand falls, all thanks to the current lockdown imposed by China in its major coastal cities.
While most products and commodities worldwide face inflationary pressures, NZ dairy prices fell by 4% in April. According to ANZ World Commodity Price Index, dairy was driven by lower prices for whole milk powder, which is highly influenced by demand from China. Market sentiment has deteriorated with the Shanghai and Beijing Covid-19 lockdown affecting consumer buying.
