ANZCO return good result
Meat processor ANZCO Foods has reported an annual turnover for 2022 of $1.90b - compared with $1.64b for 2021 - and net profit before tax of $147.7m (2021 $75m) for the 2022 financial year.
The New Zealand dollar will be the big worry for beef and lamb prices in the next year, says ANZCO chairman Sir Graeme Harrison.
“The big worry for lamb is not the price of retail in the UK, because that is holding up; it is the issue of the exchange rate. The NZ dollar has appreciated so much,” Harrison told Rural News.
“The problem really is sterling, which has depreciated so much against all major currencies and we are caught up in all that.
“That’s a worry,” Harrison says.
“On the beef scene, while obviously we have enjoyed very good times, it will be difficult to keep prices up where they are. But a lot depends again on demand in Asia and where the exchange rate finishes. I would say the exchange rate has got a huge influence on farmer incomes this year.”
Harrison says it has always been a big factor, “but it is particularly big at the moment”.
“When dairy prices have been down in the past the New Zealand dollar has gone down – and it didn’t this time.”
The dollar is well ahead of where it was last year, “a concern for NZ”.
He doesn’t think the falling interest rates will have a big influence.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.