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Commodities

Dairy prices bounce back

Farmers cut production after years in the red

Dairy farmers in New Zealand are cutting back on production.

TOKYO -- International dairy product prices have seen a rebound after farmers in Europe and New Zealand curbed production in the face of price falls in 2015-2016, resulting in an easing of global oversupply.

The benchmark Global Dairy Trade Price Index stood at 1,040 in mid-January, up 66% from the recent low set in March 2016 and the highest in roughly two and a half years, according to the latest data.

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