Strong growth in farm salaries - report
A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.
After dropping to an historic low in late 2022, New Zealand farmer sentiment has now crept higher, the first quarterly Rabobank Rural Confidence Survey of the year has found.
However, rural confidence remains deep in negative territory overall with only one in 20 farmers holding an optimistic view on the prospects for the agricultural economy in the year ahead.
The latest survey — completed late last month — found farmer confidence was up on the previous quarter (Dec 2022), with the net confidence reading rising to -58%, from -71% previously. The latest survey found the number of farmers expecting conditions in the agricultural economy to improve in the coming 12 months had risen to 5% (from 4% in the previous quarter) while the percentage expecting conditions to worsen fell to 63% (down from 75%). A total of 31% were anticipating the agricultural economy to remain stable (up from 19% previously).
Rabobank New Zealand chief executive Todd Charteris said the uptick in confidence came despite incredibly challenging climatic conditions for many of New Zealand’s primary producers during the early part of 2023.
“With Cyclone Gabrielle battering much of the North Island in February, and parts of the lower South Island impacted by drought in recent months, it really has been a tough start to the year for the country’s farmers and growers,” he said.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
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