Ravensdown Pays First Rebate in Three Years on $50m Profit
When it comes to annual rebates, it's been a long time between drinks for Ravensdown shareholders.
She's one of three candidates for the seat including incumbent Nicky Hyslop and Rebecca Keoghan. Voting commences August 27.
Smith says she was approached by a group of shareholders to stand, and her decision was driven by concern around the current state of play in the fertiliser sector - an industry she spent a decade working in before going rural banking and then full-time farming.
"Our fertiliser co-ops need to be nimble, sharply prices and open-minded about what the structure of the fertiliser sector looks like going forward," Smith told Rural News.
"Ravensdown was founded by farmers, for farmers. I make no apology for being ruthlessly clear on my vision for Ravensdown - secure and transparent fertiliser supply, quality and pricing.
"The exact same mantra when the co-op was established back in the late 1970s. We can't afford fiscal follies on expensive pet projects that aren't aligned with this core business objective and need to focus 100% on product quality, sustainably competitive pricing and nimble procurement.
"Ravensdown has always been known for innovation and can stay at the forefront of this."
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Smith acknowledges that it is easy to criticise from the outside but remains concerned that Ravensdown has built an empire that may not be as agile as it needs to be in the changing landscape of New Zealand's fertiliser sector.
"The number of new competitors into the sector has been a real wake up call. I acknowledge it is easy to cherrypick certain aspects of the market, but the net effect of these new entrants is that farmers are accessing clearer, cheaper deals on the day.
"This is what our co-ops were established for. If we aren't delivering on that, then the strength of a co-op is based on nostalgia. A discussion around whether current levels of domestic manufacturing is still relevant long term or whether importing a higher percentage of product is the most efficient way forward needs to be had with both of our fertiliser co-ops.
"I believe the Ravensdown board have made some hard calls over the past 24 months and I support these. Unfortunately, there may be some even harder calls to make over the next 3-5 years."
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Jane Smith |
Smith has previously aired concern that many agricultural company boards are operating under a "catholic conclave" model with a defensiveness from directors but assured Rural News that she wants to be constructive, not destructive.
"The easy option would be to just look the other way and do my day job. However, this is a sector that I am passionate about and feel I can add some knowledge to. As a full-time farmer in the trenches I know that decissions made in the barracks need to have a line of sight back to the grassroots. Pricing, spreader operations, transporters, farmers and the field team are the litmus test on head office decisions."
Voting closes on September 23 and results will be announced later that day. For the North Island area, sitting director Jacqueline Rowarth has been elected unopposed.
