New Zealand, the world’s third- largest kiwifruit producer, has placed entry restrictions on a North Island orchard to avoid the spread of a possible vine infection pending further testing. The local currency fell.
New Zealand, the world’s largest dairy exporter, may receive near-normal rainfall through June, potentially easing the most widespread drought in at least 30 years that’s driven milk-powder prices to a record.
New Zealand’s government said domestic apple growers suspended exports to China after a fungal rot discovery, less than two months after the nation’s biggest exporter was hurt by a contamination scare.
New Zealand’s economy expanded more than forecast in the second quarter from a year earlier as increased construction activity offset the drag from the worst drought in 30 years, sending the nation’s currency higher.
New Zealand is experiencing its most widespread drought in at least 30 years, the government said today, as dry conditions across the North Island threaten economic growth and cause global milk prices to rise.