Australia's flood losses could be New Zealand's gain
New Zealand growers could benefit from Australia’s flooding woes by filling in gaps left by local growers underwater, according to Australian website Stock & Land.
Internal supplies of fruits and vegetables are dropping during the record-setting flooding, giving New Zealand an entry. Some estimates call for fruit and vegetable prices to quadruple in Australia, local media have reported.
New Zealand may have an edge in kiwi, cherries, tomatoes and sweet potatoes, Stock & Land said. The flooding is not expected to affect Australia’s avocados.
New Zealand's lower labor costs and more favorable exchange rate put it in good shape as well, the website said.
Australia is also suffering export losses in the Asian market as those countries import cherries and other Southern Hemisphere summer fruit from Chile and Argentina, abc.net.au has reported.