Olam, the Singaporean food commodities group, says high NZ milk prices have wiped out profits at its 25 per cent-owned Open Country Dairy and it may consider exiting the investment.

Fonterra says it is about to buy a dairy farm in Brazil.

Fonterra's bold plan strikes hurdles, writes Jonathan Underhill.

High milk prices have forced an award-winning Hawkes Bay cheese factory to close, with the loss of nine jobs.

Imagine, by some clever sleight of hand, dairy monopoly Fonterra artificially inflated the price it pays to farmers.

Food prices were up 0.3 per cent last month, says Stats NZ, with prices up 5.5 from a year earlier.

Fonterra is being asked to hand over its raw milk price calculations to the Commerce Commission, as it looks into whether a full milk price inquiry is justified.

Dairy giant Fonterra says strong international markets mean this season is shaping up as one of the best ever for returns to its farmer owners.