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17 June 1997
Recent commentaries by industry analysts on the effects of exchange rates on farm returns have tended to focus on particular time frames, and highlighted the adverse
impacts on different commodity sectors.
In an article in the 1997 "Situation and Outlook for New Zealand Agriculture" - "Exchange rate impacts on farm income: The facts" - Ronnie Horesh and Dr Ram SriRamaratnam have tried to take a more balanced approach, and to consider longer time frames, taking in a range of periods one of which begins before the New Zealand dollar was floated.
The article looks at changes not only in overseas prices, but also at the effects of changes in the value of the New Zealand dollar against the different currencies paid for the range of New Zealand exports.
The main conclusions of the authors are that:
The 1997 Situation and Outlook for New Zealand Agriculture was published today, available from MAF and Bennetts Bookshops.