Federated Farmers hails rural banking report
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Farmers are welcoming the broad scope of a parliamentary inquiry into banking competition.
The terms of reference announced last week include looking at the price of banking services, with a particular focus on business and rural lending products and the return on capital from business, rural and residential mortgage lending.
Federated Farmers banking spokesperson Richard McIntyre says the broad scope of the inquiry will hit the mark for farmers and rural communities.
“We’re pleased to see the Government announce a wide-ranging inquiry that will leave the banks with nowhere to hide,” McIntyre says.
“Farmers have been asking serious questions about the levels of competition, profitability and transparency in rural lending for a long time now – and it looks like they’re about to get answers.
“This inquiry is well placed to shine a bright light on parts of our rural banking system that, until now, have been allowed to operate in the shadows.”
The chair of primary production select committee, Mark Cameron, is urging the rural sector to make their voices heard.
“Anyone on the back of a rural loan, whether you are a horticulture, sheep and beef, arable or dairy farmer, should make sure their voices are heard – be part of the process,” he told Dairy News.
The public submission period runs for six weeks.
After serving three as a DairyNZ director, Waikato farmer Chris Lewis is ready for another term.
DairyNZ has announced the date for its six-yearly Milksolids Levy vote, which will take place from Monday, 16 February to Friday, 13 March 2026.
LIC has reaffirmed its sponsorship of the New Zealand Dairy Industry Awards (NZDIA) by signing up as a national sponsor for another three years.
On track for a fifth consecutive year of organic milk price increases, Fonterra is seeking more suppliers to meet growing global demand.
Converting a Banks Peninsula farm to dairy is expected to reduce its environmental footprint by 46%, say its owner and manager.
Research and healthcare initiatives, leadership and dedication to the sector have been recognised in the 2025 Horticulture Industry Awards.
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