13 Mar 2013

Diverse portfolio will mitigate drought effects - PKW Farms

7:25 pm on 13 March 2013

A major Taranaki Maori dairy farmer is counting on its diverse farming portfolio to mitigate the effects of the increasing drought conditions.

Taranaki is joining other North Island regions seeking Government recognition that it is in a state of drought.

PKW Farms Limited is Fonterra's largest Taranaki milk supplier and fears most of their dairy farms will have dried off their cows by the end of March.

Parininihi ki Waitotara (PKW) chief executive Dion Tuuta says while the drought is causing stress on its farms, the company's business in crayfish, forestry and commercial property investments should keep it buoyant.

He says even although the incorporation stands to lose an income of $1.5 million due to the drought conditions, PKW's wide business interests should keep it in profit.

Mr Tuuta says this reflects the value of being involved in a wide variety of ventures.