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New Zealand Dairy Board (NZDB): The New Zealand Dairy
Board is a quasi- government corporation that was explicitly created by New
Zealand statute to purchase all New Zealand dairy products that are manufactured
for export. (New Zealand accounts for about 1 to 2% of world milk production,
but has an export share of about 25% of the market.) The Board is governed by 13
Board members, 11 of whom are directors of New Zealand’s dairy cooperatives, and
2 are appointed by the government. It operates through a global network of
marketing subsidiaries, based in the countries where New Zealand dairy products
are sold. Through its purchasing activities and its system of premiums and
penalties, it can encourage the production of dairy products that are in high
demand and discourage those that are in surplus.
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