New Zealand agri-tech company Tru-Test is bucking the trend of outsourcing manufacturing to China, saying it's good business to keep things close to home.

The risk of the kiwi dollar remaining high is the biggest risk to Government forecasts for growth in the nation's farm, forestry and seafood exports, a new Government report says.

Farmers are looking to "turn things on their head" by challenging environmental assumptions about their sector at a water forum tomorrow.

Economists are encouraged by a sharp surge in world dairy prices overnight, but say it is too early to say whether the downward trend in prices has been reversed.

World dairy prices were up from three year lows in the latest overnight auction.

Two new products developed by Dunedin-based New Zealand Honey Company have been launched into a UK supermarket chain.

The ANZ Commodity Price Index fell 4.2 per cent to a 21 month low in May.

New Zealand's terms of trade fell in the first three months of the year as a decline in commodity prices weighed on exports.

Zespri International, which controls exports of New Zealand kiwifruit, almost tripled annual profit.

New Zealand posted a smaller-than-expected surplus in April.