$150B farm succession challenge looms for NZ agriculture
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
The direct trade impacts of Brexit on NZ's agricultural sector are likely to be relatively contained, Rabobank says in its June Agribusiness Monthly report.
The global agribusiness banking specialist says with the United Kingdom and the EU-27 nowadays only contributing a relatively small share of New Zealand food and agricultural (F&A) exports – 4.3% and 8.8% respectively by value – the direct trade implications of the UK's historic decision to leave the European Union would be limited for the agricultural sector as a whole.
However, the report notes, for some sectors – particularly sheepmeat, wool, fruit and wine – the direct export exposure is more significant.
Rabobank senior analyst Marc Soccio says these sectors in particular would be exposed to any sustained negative impact Brexit had on the UK economy and household incomes, as well as price inflation due to adverse currency moves.
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.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Tighter beef and lamb production globally have worked to the advantage of NZ, according to the Meat Industry Association (MIA).
Groundswell is ramping up its 'Quit Paris' campaign with signs going up all over the country.
Some farmers in the Nelson region are facing up to five years of hard work to repair their damaged properties caused by the recent devastating floods.
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