Russia's sweeping bans on imports of European, US and Australian food may prove a diplomatically embarrassing bonanza for New Zealand's cheese exporters.

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar.

Commodity prices fell for a fifth straight month, led by whole milk powder, reflecting a build-up of inventory in China and strong local milk production.

Kiwi exporters should look to market more premium products to an increasingly wealthy Chinese consumer, says Shanghai-based economist Mary Boyd.

Exporters can only hope that the economic news out of the United States this week will reinforce, or at least not reverse.

Log export prices have dropped sharply since March because demand in New Zealand's biggest market - China - has fallen while supply has substantially increased.

Fonterra says it's 'realigning' its packing operations at its Canpac plant in the Waikato - and 110 jobs may be lost as a result.

Agriculture reporter Jamie Gray looks at reasons why it’s not yet doom and gloom for the dairy sector following this morning's drop in global dairy prices.

The pressure is on Fonterra’s $7.00 a kg farmgate milk price forecast for this year after another sharp fall in international dairy prices overnight.

Furuno Electric Co, best known for its fish finder systems, has purchased a 10 per cent stake in Electronic Navigation, owned by the Hodson family.

Fonterra said milk collection across New Zealand for the month of June reached 9 million kg of milksolids, 10.1 per cent higher than the same month last year.

June provided further evidence that the terms of trade is headed south, albeit from the most favourable levels in 40 years.

New Zealand commodity prices fell for a fourth straight month in June, led by apples, logs, whole and skim milk powder.

Dairy product prices fell to the lowest level since January 2013 in the latest GlobalDairyTrade auction, paced by a drop in butter and anhydrous milk fat.

New Zealand posted its seventh monthly trade surplus in May, led by overseas demand for the nation's primary products such as milk powder, butter and cheese.

Port of Tauranga has signed a freight deal with the Fonterra, Silver Fern Farms and container shipping line Maersk that will facilitate the arrival of 6,500 TEU ships to NZ.

French food giant Danone was "lulled into a false sense of security" by allegedly misleading information Fonterra gave it months before the botulism scare.

Fonterra's attempt to suspend the legal action it is facing from Danone over last year's botulism scare is due to be heard today in the High Court.

Strong growth in construction led to a 1.0 per cent rise in gross domestic product (GDP) in the March 2014 quarter, Statistics New Zealand said today.

New Zealand recorded a $1.4 billion current account surplus in the March quarter, the largest ever.

Fonterra Cooperative Group has tapped the president of its China operations, Kelvin Wickham, to head up the newly created global ingredients