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TeachMeFinance.com - explain New Zealand Dairy Board (NZDB) New Zealand Dairy Board (NZDB) The term 'New Zealand Dairy Board (NZDB) ' as it applies to the area of agriculture can be defined as ' 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'. Previous 5 Terms: New field New field discoveries New Molecular Entity (NME) New reservoir New York rod Next 5 Terms: NEWD Newton newton Newton's law of universal gravitation Newton's laws of motion About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.