NZ dairy farmers repay $1.7 billion in debt as milk price hits $10/kgMS
Dairy farmers are shoring up their balance sheets, with almost $1.7 billion of debt repaid in the six months to March 2025.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
Lorraine Mapu, ANZ managing director of business and agri, says that renewed heavy rain warnings are another blow for local businesses, orchardists and farmers already grappling with widespread damage.
"Many have had homes, land, and businesses flooded, farms damaged and crops destroyed," Mapu says.
"For our farmers, the welfare of their animals is priority, some will be facing stock losses, feed shortages, damage to fencing and disruption," she says.
"We've got staff out in the community and on the road, talking to business owners and visiting farmers in some of the worse affected areas, to get a better idea of the extent of the damage.
"We want to reassure our customers that the bank is here to work with them in the days and months ahead," Mapu says.
ANZ is recommending farmers and business owners talk with their key industry specialists and professional advisors to work out the best way forward.
ANZ is making targeted assistance available for business and farming customers, subject to approval.
This includes temporary overdraft facilities and the ability to defer loan repayments or moving to interest only to help ease some financial pressure.
Business and Agri customers should speak to their relationship manager or phone ANZ's Business Service centre on 0800 269 249 to discuss the impact on their business and their funding requirements.
Two butcheries have claimed victory at the 100% New Zealand Bacon & Ham Awards for 2025.
A Taupiri farming company has been convicted and fined $52,500 in the Hamilton District Court for the unlawful discharge of dairy effluent into the environment.
The Climate Change Commission’s 2025 emissions reduction monitoring report reveals steady progress on the reduction of New Zealand’s climate pollution.
Another milestone has been reached in the fight against Mycoplasma bovis with the compensation assistance service being wound up after helping more than 1300 farmers.
The Government’s directive for state farmer Landcorp Farming (trading as Pamu) to lifts its performance is yielding results.
The move to bring bovine TB testing in-house at Ospri officially started this month, as a team of 37 skilled and experienced technicians begin work with the disease eradication agency.
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