Food prices are continuing to rise, with a 5% increase in the year to August. 

Dairy continues to be the main driver, with the price of milk rising 16%, cheese 26%, and butter 32%.  

Meat, poultry, and fish followed behind, up 8.1% annually. 

Fonterra Co-operative Council Chair John Stevenson told Mike Hosking what they see is a pretty clear correlation between current prices and global markets. 

He says it’s a good time to be a farmer now but it may not always be the case, and you only have to go back to the 23/24 season in which the headline milk price was below the cost of production to see that. 

LISTEN ABOVE 

Food prices are continuing to rise, with a 5% increase in the year to August.&nbsp;
Dairy continues to be the main driver, with the price of milk rising 16%, cheese 26%, and butter 32%. &nbsp;
Meat, poultry, and fish followed behind, up 8.1% annually.&nbsp;
Fonterra Co-operative Council Chair John Stevenson told Mike Hosking what they see is a pretty clear correlation between current prices and global markets.&nbsp;
He says it’s a good time to be a farmer now but it may not always be the case, and you only have to go back to the 23/24 season in which the headline milk price was below the cost of production to see that.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

John Stevenson: Fonterra Co-operative Council Chair on food prices increasing 5% in the 12 months to August

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/46795d50-b111-4e70-9aab-b35a0157f0d2/transcript