September 3, 2019 / 8:56 PM / 5 months ago

New Zealand's Fonterra says weaker yuan will hit disposable income

Sept 4 (Reuters) - Fonterra, the world’s biggest dairy exporter, said on Wednesday the weaker Chinese yuan is hurting purchasing power of consumers for diary products, including its own, which are priced in U.S. dollars.

New Zealand’s Fonterra maintained its current farmgate milk price forecast of NZ$6.25 to NZ$7.25 per kg of milk solids. The Aukland-based company added that it was keeping an eye on global trade risks. (Reporting by Nikhil Kurian;Nainan in Bengaluru; Editing by David Gregorio)

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