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Cows getting milked - Source: Thinkstock -
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Foodstuffs is promising to pass on a reduction in the price of wholesale milk to customers.
Fonterra announced today it will drop the price of wholesale milk from the end of this month.
It is not known how much the price will be reduced by and how long it will last.
Foodstuffs, which owns Pak'n Save supermarkets, said any savings could be passed on to customers.
"We have always worked with suppliers to bring the best possible prices to our customers," said managing director of Foodstuffs Steve Anderson.
"We are pleased to hear that Fonterra are planning to reset milk prices within New Zealand."
Progressive Enterprises, which owns Countdown, has yet to confirm if it will pass the reduction on.
Fonterra says international dairy prices have softened since the highs of last year, and while they are on the rise again, it expects to see local prices come down slightly.
Fonterra froze the price of New Zealand wholesale milk last year, in the face of a public backlash over rising retail milk prices.
The move follows Fonterra's announcement last month it would provide free milk in all primary schools.
- With Newstalk ZB
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