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 bonus for the country’s primary exports with the final figure for the end of June hitting $53.3 million – $1.1 billion more than projected.
Agriculture Minister Damien O’Connor described the result as an outstanding testament to the ongoing efforts of our farmers, growers, foresters, fishers and processors. The June quarter saw a strong finish with meat and dairy leading the charge bringing in an additional $1.1 billion to the economy.
O’Connor says the food and fibre sector continues to head New Zealand’s export-led economic recovery. He says the data also showed seafood and horticulture exports surpassing the previous year’s exports.
“Food and fibre exports made up 81.4% of New Zealand’s total exports in the year to 30 June 2022. In the two years since Covid-19 collectively, the sector has done a terrific job keeping the wheels of the economy turning.”
Meanwhile, Rabobank’s Emma Higgins says the result is certainly worth celebrating. She says it reflects the fact that in the last year, and in particular the last quarter, there has been really strong demand from our key markets – especially for sheep and beef, and also for dairy until recently.
Higgins says the demand for NZ products has seen record prices being paid for some of our primary exports. However, she warns that the situation may change in the next 12-18 months when some of the ramifications of the present geopolitical situation kick in.
Higgins adds that the effects inflation could be another factor to watch for in the future.
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.