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Federated Farmers president and commerce spokesperson Andrew Hoggard.
Farmers are throwing their support behind the Farm Debt Mediation Scheme.
The scheme requires creditors to offer mediation to farmers who default on payments before they take any enforcement action.
Federated Farmers says the scheme is one farmers would hope to never have to use, but it’s a useful backstop if a farm’s finances do go pear-shaped.
"We strongly supported this legislation as it was shaped and debated by the select committee and Parliamentary processes over the last year or so and we’re glad it’s now in place," says Federated Farmers president and commerce spokesperson Andrew Hoggard.
The Federated Farmers May 2020 Banking Survey showed more than 80% of farms carry a mortgage and overdraft.
While 69% of the 1,400 farmers who responded were ‘satisfied’ or ‘very satisfied’ with their banks, 19% felt ‘under pressure’ from their banks, rising to 28% among arable farmers.
"It’s an uneven playing field in terms of available resources when a farmer and bank are in dispute. This legislation provides a platform for mediated communication," says Hoggard.
"Although we hope it won’t have to be used very often, it will have done its job if it helps banks and farmers find enduring and sustainable solutions before it is too late."
Farmers wishing to access the scheme should visit the MPI website.
OPINION: While we're on the topic of lumberjacks, Biosecurity Minister Andrew Hoggard has no doubt used a chainsaw hundreds of times, but your old mate reckons he would’ve still been sweating on getting it right when cutting down a pine in front of the cameras, as he did above Queenstown during a recent pre-Budget announcement around extra funding for wilding pine control efforts.
Wilding pines are the wrong tree in the wrong place, and they need to go, says Biosecurity Minister Andrew Hoggard.
Federated Farmers says the Government’s latest investment in road resilience is a positive step toward protecting rural communities and freight routes from increasing severe weather events.
Animal welfare improvements as well as reduced costs for dairy farmers are at the heart of a new move which could help cut back on the waste of unused vet drugs.
Federated Farmers has been urged to consider establishing a policy on artificial intelligence (AI).
This month's National Fieldays will again display a strong international flavour, with more exhibitors and overseas delegations in attendance.
Massey University says its stand at the Fieldays will showcase regenerative science and “circular bioeconomy innovation supporting more sustainable and resilient farming systems”.
Fonterra is strengthening its foodservice presence in China with the launch of a new cream for professional bakeries at Bakery China 2026 in Shanghai.
OPINION: The coalition Government’s plan to make about 9000 public servants redundant looms as a major election issue
From last week, the Industrial Hemp Regulations 2006 have been revoked.
The Rural Support Trust is hosting a series of community wellbeing events featuring former NZSAS soldier and Victoria Cross recipient Willie Apiata.
OPINION: While we're on the topic of lumberjacks, Biosecurity Minister Andrew Hoggard has no doubt used a chainsaw hundreds of…
OPINION: To a chorus of crying greenies, and not a minute too soon, the Government has moved to put the…
