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ASB general manager rural banking, Aidan Gent.
A new report from ASB and Lincoln University shows how smarter, more diverse land use could unlock billions in value for farmers and the wider economy.
The Future Use of Land and How to Fund It, a collaboration between ASB and Lincoln University's Centre of Excellence in Transformative Agribusiness, outlines how land use optimisation across the food and fibre sector could significantly boost the country's GDP, while also delivering social and environmental benefits.
Developed with input from leaders across the primary sector, including dairy, horticulture, sheep and beef, agritech, finance and government, the reoport explores four possible futures for New Zealand.
Each scenario focusses on a single factor that will impact the food and fibre sector, for example greenhouse gas (GHG) emissions targets, or the Government's goal to double export values, and pushes them to the extreme, demonstrating the pressing need for change.
The research sets out seven transformational pathways, such as diversifying farm systems to introduce mixed revenue streams, increasing horticultural production, and unlocking underutilised Māori land. It demonstrates how better land use, paired with innovative funding, can unlock sustainable value across rural New Zealand.
Researchers have also developed a land transition model, providing land-use insights on a regional level. Agri-consultants can use the model to help inform potential paths forward for farmers.
“The food and fibre sector has always been a key driver of our economy, yet many producers operate on slim margins. We speak with farmers every week who are deeply committed to their land and legacy but grapple with viability, as they’re not getting the returns to operate sustainably into the future,” says ASB’s general manager rural banking, Aidan Gent.
“This research brings together the insights and tools to help landowners make informed decisions for future prosperity.”
Alan Renwick of Lincoln University says optimising land use by just 10% could add $10 billion in value to the economy if it’s done in the right way, and this or more could be achieved in the next 5-7 years.
The future of New Zealand’s agricultural sector grew a little brighter, with the South Island Agricultural Field Days (SIAFD) now accepting applications for its scholarships through Lincoln University, offering $10,500 to up to six exceptional students who are poised to become the next leaders in the primary industries.
Labour's agriculture spokesperson Jo Luxton says while New Zealand needs more housing, sacrificing our best farmland to get there is not the answer.
Profitability issues facing arable farmers are the same across the world, says New Zealand's special agricultural trade envoy Hamish Marr.
As electricity prices soar, farmers appear to be looking for alternative energy sources.
Fonterra has invested in a new effluent pond mobile dosing service to support farmers to reduce emissions and make progress towards its on-farm emissions reductions target.
A US-based company developing a vaccine to reduce methane emissions in cattle has received another capital injection from New Zealand’s agriculture sector.
Wools of New Zealand has signed a partnership agreement with a leading Chinese manufacturer as the company looks to further grow demand in China and globally.
Opportunities for Māori are there for the taking if they scale up their operations and work more closely together.
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