LIC semen probe results to be made public
The result of two probes into the supply of bad sire semen to over 1100 LIC farmer customers will be made public next month.
Falling dairy prices were a key contributor to a widening current account deficit in the March quarter, Statistics New Zealand says.
New Zealand's current account deficit was $2.8 billion in the March quarter which is $0.6 billion larger than the December 2011 quarter deficit.
For the March 2012 year, New Zealand's current account deficit was $9.7 billion (4.8% of GDP). This compares with a deficit of $7.2 billion (3.7% of GDP) for the March 2011 year.
The quarterly deficit increase to $2.8 billion was mainly caused by a turnaround in New Zealand's international trade in goods and services, which was a deficit for the first time since the December 2008 quarter.
Dairy products, crude oil, and fruit drove goods exports down, while imports of crude oil increased.
"The value of dairy exports fell despite an increase in volumes, as dairy prices fell for the third quarter in a row," balance of payments manager John Morris says.
Spending by visitors to New Zealand also fell as visitor numbers dropped following the Rugby World Cup.
Profits earned by foreign-owned companies in New Zealand fell in the March quarter, partly offsetting the falls in exports of goods and services.
Despite the fall in profits, earnings reinvested in New Zealand by these companies increased $0.4 billion this quarter. I
In contrast, dividends paid to overseas investors by these companies fell $0.8 billion, to their lowest level in over seven years.
The year-end deficit increase to $9.7 billion was mainly due to higher profits earned by foreign-owned banks and increased imports of petroleum and petroleum products. Services imports and transfer payments to overseas also increased over this time, due to the rising costs of reinsurance in the latest
year.
Despite the current account deficit in the March 2012 quarter, New Zealand's net international liability position decreased to $143.2 billion (70.9% of GDP) at 31 March 2012, from $146.3 billion (72.9% of GDP) at December 31, 2011.
The chair of the Dairy Environment Leaders, the president of the North Otago Federated Farmers, and a herd health veterinarian are among those nominated for the Fonterra Dairy Woman of the Year award this year.
Winners of DairyNZ’s Sustainability and Stewardship awards in the Ballance Farm Environment Awards have their eyes firmly fixed on progressing a positive future for New Zealand dairy.
Troubled milk processor Synlait’s co-founder John Penno has stepped down from the board.
Dairy Women's Network has announced the finalists for its Regional Leader of the Year award.
Farmers are being urged to make their veterinarians an integral part of their farm management team.
Animal rights organization, SAFE says the government needs to maintain the ban on live exports.
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