Free workshops to bolster farmer financial skills
Free workshops are being offered around the country to help farmers take more ownership of their farm business finances.
Rabobank says NZ’s food and agri sector’s heavy exposure to China has been magnified by the coronavirus outbreak.
In its March Agribusiness Monthly Report, the specialist rural banker says that in 2019, 31% of the sector’s exports by value were destined for China.
Rabobank estimates that around 15% of all products coming off NZ farms are now being shipped to China. It points out that NZ beef, sheepmeat and cheese products are especially exposed to the Chinese foodservice industry.
“Secondary markets exist for NZ products outside of China, but usually they pay less for products typically shipped to China,” the report says.
It says, in the last week of February, anecdotal evidence suggested that logistics were improving in China. However, the bank warns that any reacceleration of infection rates in China would set any recovery back significantly.
In late February, coronavirus made its first appearance in a wide range of countries and gained a significant foothold in South Korea, Iran, and Italy.
“Clearly, its impacts will be worse if coronavirus gains a foothold in NZ’s other important export markets and globally important economies, like Japan and the US,” Rabobank adds.
It says the impact of coronavirus will also depend on how China fares.
“If the virus is contained in China, the NZ food and agri industry will be better placed to weather the storm of its spread to other markets.”
Meanwhile, bank suggests the sector is likely to gain some offset to the virus’s spread via exchange rates.
“The worse the virus gets, the lower the New Zealand dollar will fall,” the report concludes.
“Other market developments may help reduce the impact of the virus on some commodities. But the industry cannot hope to avoid lower pricing and a slowdown in sales if a pandemic ensues.”
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.