Primary Sector

Flying kiwi hitting export returns

Rebecca Howard
Mon, 30 Nov 2020

Rebecca Howard
Mon, 30 Nov 2020
Exporters will find little solace in the Reserve Bank’s assurances its actions kept a lid on the New Zealand dollar given the currency has soared 28 percent from its March low.“Any upward movement in the NZ dollar erodes farmgate/wharfgate/orchard gate returns whatever the level of the currency,” said ANZ Bank agri economist Susan Kilsby.“It will have a more immediate impact on the export of goods that are more reliant on spot sales and therefore are generally less hedged, for example, meat, fruit.”The kiwi dropped...

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