NZX Agrifax Dairy Index launched

02 March 2007 - NZX Agrifax, a wholly owned subsidiary of New Zealand Exchange Limited (NZX), is pleased to announce the launch of the NZX Agrifax Dairy Index (the Dairy Index).

NZX 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.

A copy of the NZX Agrifax Dairy Index methodology is available for download here.

About NZX Agrifax

NZX acquired Agri-Fax in March last year, recognising how critical the rural sector is to the New Zealand economy. NZX Agrifax has been operating for 20 years and produces a variety of data types including farm gate pricing, overseas market information and market monitoring. Over 85% of NZX Agrifax customers are media, government organisations and corporate groups, with individual rural customers also putting NZX Agrifax market information to good use to help run their farming operations.

For more information about the NZX Agrifax Dairy Index or NZX Agrifax rural market information visit www.agri-fax.co.nz or phone (04) 495 2807.

For more information, please contact:
Lucy McFadden
Communications
New Zealand Exchange Limited
04-496-2890
027-512-7832