A Treasury forecast of a plunging kiwi dollar should mean a surge in the New Zealand primary sector, says a new MAF report.

An Auckland firm has rolled out an ingenious use for the byproducts of an unlikely combo - sheep and coffee.

New Zealand commodity prices edged up to a new record in May, led by kiwifruit at the start of a new season. Prices in New Zealand dollars fell from a record level as the kiwi dollar climbed.

Sheep farmers have until tomorrow to decide whether to back a new wool co-operative.

New Zealand wool prices surged to a 14-year high amid renewed demand for the fibre in the Middle East and Europe.