03 September 1997
Currency problems hike NZ dairy prices

CURRENCY upheavals has forced the New Zealand Dairy Board to raise prices in all its markets, resulting in slower sales.

It has caused significant problems in its key Asian markets.

Warren Larsen, the boards chief executive, said any improvement in the dairy products market in the new season was likely to be modest and occur later.

Sales to Asia rose NZ$300 million to NZ$1.39bn (US$882m/£550m) in the year to the end of June. This made the region its key market. Much of the growth came in branded products.

Dairy products are now New Zealands main export earner.

  • Financial Times 03/09/97 page 39