Farmers back government’s RMA reforms
Farmers appear to be backing the Government's recent Resource Management Act (RMA) reforms announcement.
AFTER EXPORT data for the June quarter, Federated Farmers is relieved the OCR will likely be on hold for the remainder of 2014.
"With the rural economy's sentiment decidedly bearish, an OCR hold is perhaps the best we could hope for," says Dr William Rolleston, Federated Farmers President.
"Dairy farmers are anxious about their likely payout following falls in international dairy prices and a stubbornly high exchange rate.
"This will not be helped by the seasonally adjusted value of exported goods falling 7.4% in the June quarter. Most of the major primary exports were down, including dairy, meat and logs."
Dr Rolleston says given the drop in farmer confidence and other economic developments "we actually thought there was good case for the OCR to be left unchanged".
"While that's now academic, the key thing is that the Reserve Bank has clearly communicated its intention to pause and take stock. This is the right signal," he says.
"We were pleased to hear the Reserve Bank state, in no uncertain terms, its concern about the unjustifiably and unsustainably high exchange rate. Clearly, in taking a pause, it wants to take pressure off the exchange rate and this is the right call.
"The fact that inflation remains contained is helpful and it has given the Reserve Bank some breathing space.
"We now hope that the Reserve Bank will be able to keep the OCR on hold for an extended period. To be able to do that other government policies need to help rather than hinder.
"This means fiscal responsibility, tight control of spending and wider policies around regulation. Exporters, whether ICT, tourism or the primary industries, need policies to assist rather than impede productivity and competitiveness.
"We hope that the media and commentators will be examining policies and pledges against this prescription," Dr Rolleston says.
Farmers appear to be backing the Government's recent Resource Management Act (RMA) reforms announcement.
For the first time, all the big names in agricultural drone technology are being brought together under one marquee at the National Fieldays.
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
The Fieldays Innovation Awards competition has attracted a diverse and impressive array of innovations from across the primary industries, highlighting the growing importance of technology shaping the future of farming.
Coming to the fore following the carnage of Cyclone Gabrielle, Starlink became well known for providing internet access even in NZ's most inaccessible places.
From this winter farmers will have a greater choice of feed types and blend options than ever before, thanks to Farmlands' purchase of animal nutrition company SealesWinslow.
OPINION: Imagine if the Hound had called the Minister of Finance the 'c-word' and accused her of "girl math".
OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global…