'Grand Alliance' growing grass-fed beef exports to China
Alliance Group and Grand Farm have signed a strategic co-operation agreement with a focus on delivering more premium New Zealand grass-fed beef to Chinese consumers.
State farmer Pāmu (Landcorp Farming Limited) has made a net profit after tax of $68 million for the half-year ended December 31, 2019.
The result is $39m better than the previous year’s net profit of $29m.
However, Pamu says the coronavirus could throw a spanner in the works in the second half.
Pāmu chief executive Steven Carden says the result was pleasing but cautioned that the second half was throwing up some uncertainty related to the impact of the coronavirus and climate conditions.
“We are pleased with our half-year result, the result of positive trading conditions and a focus on operating performance at Pāmu.
“Our EBITDAR (earnings before interest, tax, depreciation, amortisation and revaluations) for the half-year, which is our preferred measure of performance, saw a gain of $22 million compared to a loss of $3 million in the half-year to December 2018, which is very solid,” he says.
Pāmu is currently forecasting a full-year EBITDAR of between $73m and $78m however the impact of the Coronavirus outbreak and very dry climatic conditions in the north, may see it revise this as the second half of the financial year progresses.
The company has diversified its income sources in recent years and will continue to implement programs that mitigate the impact of climate change and biosecurity risks, says Carden.
“Our strategy has focused on increasing the resilience of our pastoral farming operations through farm system innovation. We have also moved to shift to land uses tied to forestry and horticulture. This strategy is helping to both improve profitability and lower the environmental impact of our operations.
“As important as our financial result has been the progress made in improving our health and safety performance, lowering our environmental impact through a range of initiatives, and improving the conditions of the animals in our care,” Carden said.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…
OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?