NZ farmers more optimistic as agricultural confidence rises
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
Rabobank New Zealand will reduce the variable base rate on its rural loans by 0.5%, effective from 16 October 2024.
Todd Charteris, Rabobank New Zealand chief executive, says the decision follows the Reserve Bank’s announcement that it would cut the official cash rate (OCR) by 0.5%.
“We have carefully reviewed our position and are pleased to be able to pass on the full 0.50% rate reduction to our New Zealand food and agribusiness lending clients at this time,” Charteris says.
Additionally, Rabobank’s fixed rates within its All-In-One loan facility reflect daily changes in wholesale markets that had priced in the expected cuts to the OCR within the last month, he adds.
“These cuts will provide a welcome reduction in costs for New Zealand’s farmers and growers who have faced high interest and farm input costs over recent seasons,” Charteris says.
“Our September Rural Confidence Survey found farmer confidence in the broader agri economy is now on the up – off the back of higher commodity prices and lower interest rates – and this further rate drop should act as another boost to primary producer sentiment,” he concludes.
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
From 1 October, new livestock movement restrictions will be introduced in parts of Central Otago dealing with infected possums spreading bovine TB to livestock.
Phoebe Scherer, a technical manager from the Bay of Plenty, has won the 2025 Young Grower of the Year national title.
The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.
Award-winning boutique cheese company, Cranky Goat Ltd has gone into voluntary liquidation.
As an independent review of the National Pest Management Plan for TB finds the goal of complete eradication by 2055 is still valide, feedback is being sought on how to finish the job.
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