Obama shafts the Waikato

In today’s Waikato Times, Nikki Preston reports that the new US export subsidies on dairy exports could cost the district’s dairy farmers $180 million.

It’s great reporting – in a 467-word article she quotes five good sources, from the PM to a Morrinsville farmer. And here is the money quote from Waikato Federated Farmers president Stew Wadey:

It’s a serious concern. The US is going to subsidise 92,000 tonnes of export product. In perspective, New Zealand only produces 105,000 tonnes, so it’s the equivalent of almost subsidising all New Zealand’s production.