New Zealand's venison exporters have seen a five percent increase in European market prices, but are still struggling with the Kiwi dollar.

The dollar is 8.4 percent higher against the Euro than this time last year, and venison farmers are looking at a potential price of eight dollars per kilogram.

Deer Industry New Zealand chief executive Dan Coup says sanctions placed on Russia over the Ukraine crisis could also impact the supply of protein by the European venison industry.