Feds make case for rural bank lending probe
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.
News reports that the United States' Cooperatives Working Together (CWT) is to increase export subsidy support to US$60 million, is a misdirection of voluntary farmer levies in the eyes of Federated Farmers of New Zealand.
"We need to clear this has nothing to do with the United States Government," says Willy Leferink, Federated Farmers dairy chairperson.
"Cooperatives Working Together is a voluntary producer-funded national program developed by America's National Milk Producers Federation. While designed to assist family farms, New Zealand's farmers know from bitter experience that programmes like this actually hurt family farms.
"You end up maximising energy to get a subsidy instead of listening to markets.
"It also means the United States' taxpayer is paying twice over. The multi-year United States' Farm Bill, now in the Houses of Congress, is costed at something like US$1 trillion. What CWT is doing is cross-subsidising exports through what US consumers are paying domestically.
"While it may be voluntary for producers, it is less voluntary for US domestic customers.
"Money like this would be far better invested in helping dairy farmers adapt systems to a no-subsidy future. Farming is a business after all. In that regard Federated Farmers would be pleased to work with US farming groups to show how we have adapted and evolved.
"There is plenty of scope for us all but that must be based on the market place being an even playing field, Leferink says.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
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.