Kiwi dairymen set for bumper payout
incomes are set to increase sharply.
This has fed the continuing conversion of former drystock and tillage farms into dairy units, particularly on the South Island.
However, there appears to be huge scope for further expansion, with just 12pc of key regions such as Southland currently used for dairy production. continued growth in demand in Asian markets.
Rabobank estimates that global dairy demand is growing annually by the equivalent of the entire output of New Zealand, or four times that of Ireland's total production.
Meanwhile, the Department of Agriculture has yet to set a date for payment of monies under the Dairy Efficiency Scheme.
A spokesman for the Department said the assessment of applications for the scheme was being assessed but he said the process was almost completed.
Close to 7,000 farmers applied for the scheme and more than 6,000 are understood to have been cleared for payment.
The scheme has a budget of €6m for each of its three-year duration. The payment for each successful applicant will be close to €1,000 this year.