Conflict in the Red Sea is playing into Kiwi dairy farmers' back pockets.
Yemen's Houthi rebels have been targeting ships travelling through the Suez Canal, meaning freight's being rerouted around the Cape of Good Hope in Africa.
Fonterra Chief Executive Miles Hurrell says it's causing a rise in demand for our dairy exports from Africa and the Middle East.
He told Mike Hosking that it's made up for China's slowdown, and has seen their forecast Farmgate Milk Price rise to a midpoint of $7.80 per kilo of milk solids.
Hurrell says it helps us in the Middle East in particular, as we head straight up there and don't have to go through the Suez.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.