Currency problems hike NZ dairy prices

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.