New Zealand has recorded its biggest ever monthly trade surplus to date but exporters are worried by the rising dollar.
Exports were worth $1.1 billion more than imports in April, with farm exports doing the best, according to Statistics New Zealand figures.
The record monthly trade surplus pushed the annual surplus of exports over imports to $1.2 billion - the highest since 1994.
At the same time, the New Zealand dollar on Monday traded at its highest point against the American currency since it was floated in 1985.
The Kiwi passed US82.15 early in the afternoon to hit US82.16 cents before pulling back. The previous post-float high was reached in March 2008.
Keith Ovens, the commercial manager of the New Zealand Merino Company, says farmers have had a really good season and prices for merino wool forecast to jump by up to 60%.
Prices have climbed, there has been a recent shortage of supply and it is shaping up to be the best season on record for merino wool, he says.
However, Mr Ovens told Checkpoint the rising New Zealand dollar has the potential to take some of the gloss off.
"The market's been going up as the dollar's been going up because of this shortage of supply, so the one question when the big volumes come on the market in September and October is, where the market will go.
"That's why we're giving growers (a) hedging option now - taking some of the price and locking it in."
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Listen to Checkpoint interview with Keith Ovens
Dollar 'likely to stay strong'
A currency strategist with Rankin Treasury believes the New Zealand dollar is likely to remain strong for some time.
The Kiwi has made strong gains in the past week on speculation of Chinese buying of government bonds.
Derek Rankin told Checkpoint on Monday it is likely that overseas investors will maintain their strong interest in the currency.
The Rugby World Cup starting in September and rebuilding in earthquake-hit Christchurch are expected to drive economic growth, making New Zealand a more attractive investment than Europe or the United States, he says.
Listen to Checkpoint interview with Derek Rankin