New Zealand Exchange Agrifax, a wholly owned subsidiary of New Zealand Exchange Limited, is pleased to announce the launch of the NZX Agrifax Dairy Index.
New Zealand Exchange Agrifax created the Dairy Index to measure the growth and return of the whole New Zealand dairy industry by combining capital values and returns for dairy farmers, dairy exporters and companies associated with the dairy industry, together with dairy commodity prices and the exchange rate.
The base index value of the Dairy Index as at 1 January 2007 was set at 1000. On 27 February the Dairy Index was at 1012.76. A year ago the Index would have been at 982.27.
The key factors contributing to this climb include: the increase in farm capital (particularly in relation to the value of dairy land and the increased value of the Fonterra Fair Value Shares), the strengthening of the NZD against the USD and the increase in dairy commodity prices across the board.
The NZX Agrifax Dairy Index will be updated on a monthly basis. -- www.nzx.com
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