Bank helps clients reduce emissions
Rabobank says climate change creates both risks and opportunities for the bank and its clients and that the food and agriculture sector needs to recognise the potential for both.
A new report says productivity growth is the key to maintaining New Zealand agribusiness’ global competitive edge in the coming decades.
In its flagship 2015 research report ‘Unlocking productivity growth in the Australian and NZ food & agribusiness sector’, agri banking specialist Rabobank says productivity growth must be reignited to drive farmer profitability.
It says the rising cost of production in recent years has pressured the competitive position of NZ agriculture in the world market and turned a spotlight on Kiwis’ slowing productivity growth.
Reviving this growth is a “particularly pressing issue”, the report warns – given the challenges faced – to reduce NZ agriculture’s environmental footprint while staying internationally competitive.
Individual farmers will have to make productivity gains to drive profitability and sustainability, and other businesses likewise throughout the food and agriculture supply chain.
A particular challenge for NZ, says report co-author Rabobank analyst Georgia Twomey, will be in reigniting sustainable productivity growth in agriculture against the backdrop of strengthening environmental regulation.
“The open market economic reforms in the mid-1980s forced global competiveness to the forefront across the NZ agricultural sector, driving efficiency gains across all parts of the value chain,” she said.
“Additional productivity growth has been derived from changing land use, particularly the switch from extensive sheep and beef farming into dairy production.
“And the significant expansion of irrigated land area – which has doubled every 12 years since 1970 – has also contributed to land use change and increased productivity,” says Twomey.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
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