Rabobank is advising the agricultural sector to be cautious as it responds to the improved global economic outlook.
In an annual agricultural focus report, the specialist agribusiness bank warns that while demand is growing again for some agricultural commodities, such as dairy and sheepmeat, there is still a lot of uncertainty.
General manager Ben Russell says there's a risk that commodity markets could over-heat again.
Mr Russell said food commodities and the currency are very volatile and a long term recovery will take time.
He said producers need to "expect the unexpected".