Dry weather crimps NZ, Australia milk output.

Byline: S. Kamal Hayder Kazmi

Dairy group Fonterra on Thursday said its New Zealand milk production fell 10percent in April from the year before as dry weather hit farms. The world's biggest dairy exporter also said in a statement that its Australian milk output dropped 10percent in March from a year earlier amid continued drought and high farm costs in that country.

The group's dairy exports from New Zealand increased by 27percent in March on-year, buoyed by demand from key Asian...