Rabobank cuts loan rate
Rabobank New Zealand will reduce the variable base rate on its rural loans by 0.5%, effective from 16 October 2024.
Costello, who has strong experience as a researcher in the meat industry, joins senior analyst Hayley Moynihan, who specialises in the dairy sector.
"We're pleased to welcome Matt into our team here at Rabobank and I am confident his strong background in the animal proteins sector will be a great asset to help further support our clients in this industry in New Zealand," says Rabobank's head of Food and Agribusiness Research & Advisory Luke Chandler.
The local Australian and New Zealand research team is part of a global network of about 80 food and agriculture research analysts spread across every major production and consumption region of the world.
Based in Rabobank's Christchurch office, Costello will cover the New Zealand animal proteins sector, with a particular focus on sheep and beef.
After graduating with a bachelor of Agricultural Economics at Sydney University, Costello previously held the position of meat market analyst with Meat & Livestock Australia, in Sydney. He also conducted specialised research related to the South Asian region dealing with markets across Greater China, as well as South East Asia.
Costello says having grown up in a rural community (New South Wales, Australia) he had a natural appreciation for how important agriculture is to the local economy, a nation and globally.
"Working for Rabobank will give me the opportunity to provide analysis on current market trends and identify future business opportunities for clients," he says.
"As one of the most respected and leading agricultural nations in the world, working and interacting with New Zealand producers and industry across the entire supply chain is an exciting opportunity."
As part of his research role with Rabobank, Costello will deliver presentations at seminars, client functions, industry conferences and field days across New Zealand.
