New Zealand dairy earnings soar

1 June 2000

New Zealand dairy earnings soar

THE New Zealand Dairy Board has earned an additional NZ$500m this season, according to a report in the Financial Times.

Higher milk production, better earnings from consumer products and a favourable exchange rate have helped achieve this.

Farmers will be rewarded with a total payment of NZ$3.1bn, up from NZ2.6bn last year, says the paper.

Meanwhile, a record harvest has been forecast for Australian cotton farmers.

Quality is high, yields are high and prices are extraordinarily high in the booming industry, reports the FT.

This years cotton can sell for A$500 a bale, with production costs at about A$325.

The crop is expected by traders to be about 3.2m bales, above the 1999 record of 3.156m bales.

  • Financial Times 01/06/2000 page 38

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