US tariffs boost NZ wool carpet export opportunity
A 50% tariff slapped by the US on goods from India last month has opened an opportunity for New Zealand wool carpets exports to North America.
Meat processor and exporter Silver Fern Farms Ltd has joined fellow South Island-based meat company Alliance Group in reporting a big loss for the past year.
SFF released its full-year results to Dec 31, 2023, last week, reporting a $24.4 million loss – with revenue down nearly $500m to $2.78 billion.
It compares to 2022’s net profit of $189.3m with revenue of $3.27b. Meanwhile, Silver Fern Farms Co-operative, which jointly owns Silver Fern Farms Ltd with Chineseowned Shanghai Maling Aquarius, also posted a loss of $10.7m over the 12-month period.
Neither the main company nor the co-op will pay a dividend for the year. Silver Fern Farms is NZ’s largest meat processor, killing sheep, beef and venison at 14 plants nationwide.
It blames the loss mainly on red meat prices, particularly lamb – which has been under significant pressure – due to a weak market in China and Australian product flooding markets.
SFF chair Rob Hewett said “depressed” consumer confidence across its key markets had pressured its customers, the operating company, and “ultimately, returns for our farmer suppliers.”
Hewett added that while it was disappointing not to be in a position to pay dividend this year, he is confident in the company’s ability to recover when market conditions become more favourable.
Alliance Group reported a loss of just over $70m in its financial year to Sept 30, 2023.
Phoebe Scherer, a technical manager from the Bay of Plenty, has won the 2025 Young Grower of the Year national title.
The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.
Award-winning boutique cheese company, Cranky Goat Ltd has gone into voluntary liquidation.
As an independent review of the National Pest Management Plan for TB finds the goal of complete eradication by 2055 is still valide, feedback is being sought on how to finish the job.
Beef + Lamb New Zealand has launched an AI-powered digital assistant to help farmers using the B+LNZ Knowledge Hub to create tailored answers and resources for their farming businesses.
A tiny organism from the arid mountains of mainland Greece is facilitating a new way of growing healthier animals on farms across New Zealand.
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