Flying kiwi hitting export returns

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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