increase font size
Rabobank New Zealand chief executive Todd Charteris.
COVID-19 is negatively impacting New Zealand’s rural sector confidence.
The declining confidence comes as the country’s primary industries prepare to shoulder some of the heavy lifting for economic and social recovery, claims specialist rural bank Rabobank.
New Zealand chief executive Todd Charteris says the bank’s latest rural confidence survey shines a light on the psyche of farmers at a critical time for the nation.
“The food and agri sectors will be crucial in helping to rebuild the New Zealand economy and Rabobank continues to have a strong positive long-term view of the sector outlook,” he says.
“Having said that, our latest survey shows farmer sentiment has slipped since late 2019.”
After climbing strongly in the December 2019 quarter, net farmer confidence in the broader agricultural economy fell to -44% in the March quarter – down from -12 per cent previously.
The survey found a decrease in the number of farmers expecting agricultural economic conditions to improve in the coming 12 months (down to 12% from 21% last quarter). There were also more farmers expecting conditions to worsen (56% from 33% previously).
The number of farmers expecting the performance of the agricultural economy to stay the same fell to 29% from 44% last quarter. Among farmers with a negative outlook, the majority cited COVID-19 as a key factor for holding this view.
Charteris says during the period the survey was open – between March 3 and 18 – farmer concerns are likely to have been centred largely on the impact COVID-19 was having on Chinese demand for New Zealand agricultural products and the potential for the virus to result in similar demand falls in other global markets.
“Understandably this had a marked impact on farmer confidence – particularly in sheep and beef due to uncertainty over market access.”
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Free workshops are being offered around the country to help farmers take more ownership of their farm business finances.
Could smaller foodservice operators take advantage of the benefits of artificial intelligence (AI)?
Rural Women New Zealand (RWNZ) chief executive Gabrielle O’Brien will step down at the end of June.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
OPINION: The new government has clearly signalled big cuts across the public service.
OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in…
