ANZ defends farm lending rates
The country's largest lender to the agriculture sector says it's not favouring home loans over farm and business lending.
He told delegates to the Feds annual conference that agriculture is still the country’s greatest strength and it is not for sacrificial slaughter on the table of compromise.
“If nations cannot tolerate free trade, including in agriculture, they need to step aside from the TPP negotiations and let those who are willing finish the deal.”
Referring to low prices in the dairy industry, Rolleston reminded delegates that as an open and trading nation NZ was vulnerable to international events.
“The Greek debt default is a fast moving feast and there is plenty to play out. Falling stock markets in Shanghai, in response, could have a chilling effect on confidence in China and pose a potential risk to our exports. Panic in world affairs has never been a winning strategy so we look to the leaders involved to play it cool and settle the situation.”
Rolleston, recently elected deputy chair of the World Farmers Organisation, returned from a WFO meeting just hours before the Feds met. He sees common issues for farmers worldwide, including access to modern technology and government investment in agricultural science.
“While for some, lack of access to technologies is a problem of scale and finance, for us it is regulatory. NZ farmers should have access to modern technologies such as nanotechnology, genetic modification and pesticides when they are shown to be safe.
“Do we need regulation? Of course we do, but it should be based on risk rather than process,” he says.
