The price of milk powder rose to the highest level since Fonterra began its online auctions in July 2008 in last night's auction.

The Chinese company that sparked a fierce national debate last year about foreign investment in farming is ploughing ahead with plans to export millions of cartons of UHT milk from New Zealand to China.

The bid is all about getting control of the seed business.

Think it's all good down on the farm? Think again. Property values are plunging, and the crisis could yet hit the cities too, reports Karyn Scherer.

Janette Walker's farm was soaring in value and the bank was happy to lend - then everything changed.

Dairy giant Fonterra has been given permission to sue the owners of the Tamahere coolstore that exploded in 2008 for $25m worth of cheese that it lost in the blaze. The blast killed one firefighter and injured seven others.

The New Zealand dollar climbed back above 77 US cents as food inflation fears prompted investors to seek out commodity-linked currencies.

The New Zealand dollar will probably test US78c this week as the currency rides the wave of stronger prices for raw materials.

Dairy giant Fonterra is boosting its billion dollar forecast payout to farmers.

Fonterra has this morning announced an increase in its payout forecast for the 2010/2011 season by 30 cents per kilo of milk solids to $6.90.

More than $1 billion is pumped into the economy every time Fonterra boosts its payout to farmers by $1, says a report which confirms the dairy industry's importance to New Zealand's finances.

New Zealand's 4.4m cows are providing 26pc of our exports, and the money earned flows right through the economy to urban communities, according to new research.

NZ cannot afford to lose control of its land, says Fonterra chairman Sir Henry van der Heyden.