As farms continue to go into receivership and be sold off, the country’s only rural insolvency specialist believes more rural businesses will face going to the wall in the next 12 months.
Dennis Wood, who heads Act Three Rural Insolvency and Investigations, predicts rural receiverships numbers will keep pace with rising rural bank debt, currently around $49 billion.
He says that a disproportionate number of rural businesses account for a higher percentage of that debt, as the currency remains high and NZ continues to be exposed to global market forces.
Many rural businesses particularly in dairy, sheep & beef, viticulture and horticulture are experiencing acute financial stress. . .
Livestock Improvement in talks with Agria over $10m loan – Paul McBeth:
Livestock Improvement Corp, which has been compensating some farmers for selling bull semen that caused ‘hairy calf’ mutations, is in talks with Chinese-linked agriculture firm Agria Corp over a $10 million loan that is due for repayment next week.
The New Zealand farmer-owned company that sells bull semen and provides a dairy genetics database is in talks with Agria and the Chinese-linked firm’s senior lender about the loan and will update the market once those discussions are complete, it said in a statement yesterday. . .
Zespri Chairman John Loughlin has announced he will stand down as Chairman of the Board and as a director early next year, at a time still to be confirmed.
Mr Loughlin joined the Zespri Board as one of three independent directors on the eight-member board (the other five directors are grower-directors) in 2002. He became chairman of Zespri in August 2008.
“When I was re-elected in 2010, I signalled then that my intention was for this to be my last term serving on the Zespri Board. . .
A study has indicated that many New Zealand honey that is claimed to be be mono-floral is not.
The study, conducted by Lincoln University, tested 64 New Zealand honeys labelled or coming from one type of plant.
It showed 29 samples did not contain the minimum pollen percentage required from one plant to allow it to be marketed as mono-floral. . .
A2 Corporation Limited (“A2C” or “the Company”) has today advanced the launch of a2™ brand milk powders and infant formula in China in 2013 with the appointment of an in-market Chinese distribution partner.
Developing an infant formula business in highly prospective markets is part of A2C’s strategic agenda. The global infant formula market is valued at greater than USD 17bn at the retail level, with China accounting for around USD 6bn and growing rapidly at approximately 12% per annum . . .
Arden Andersen, one of the world’s leading proponents of biological agriculture practices will be conducting two-day courses in Ashburton and Taupo in February 2013.
The emphasis of the courses for farmers, horticulturists and supporting advisors, is to clearly demonstrate how to grow nutrient-dense crops in larger quantities with fewer petrochemical inputs and a healthy bottom line.
Andersen, in his course ‘Grow your profits with food the world wants’, will provide attendees with the latest updates and practical applications of the natural sciences that underpin biological growing practices. . .
Nominations will soon open for the 2013 Dairy Woman of the Year award which includes the chance to attend the year-long Women in Leadership course run by Global Women.
The scholarship, worth $25,000, is part of the award sponsored by Fonterra. This year’s nominations open on 1 November 2012 and close on 16 December 2012. The winner will be announced in March 2013. . .