Govt: Lighter rules insulating dairy shock – Suze Metherell:
Light regulation in the New Zealand dairy industry has insulated the wider economy from the sharp decline in prices for the country’s largest export commodity, according to Finance Minister Bill English.
Prices for whole milk powder, the country’s key commodity export, have plunged this year and dropped an unexpectedly large 10.7 percent in in the GlobalDairyTrade auction last week, sending the kiwi dollar to six-year-lows.
Dairy prices are now expected to remain lower for longer than previously forecast, amid higher global supplies, weak demand in China and an import ban in Russia on European dairy products, which are being sold into other market. . .
The Veterinary Association has set an ambitious target to reduce the use of antibiotics to control disease in animals.
Its goal is to have New Zealand no longer having to rely on using antibiotics for animals by 2030.
President Steve Merchant said the country was well suited to the challenge because of its size, and the fact that it was already the world’s third lowest user of antibiotics on animals. . .
Federated Farmers believe the two month delay in the Select Committee reporting back the Health and Safety Reform Bill to Parliament has led to improvements for the farming industry.
The Bill has been reported back today.
Federated Farmers health and safety spokesperson Katie Milne says the Bill overall will make farms safer places.
Specifically she says the Bill has gone some way to recognising that farms are different to urban industrial workplaces. . .
New regional agreements for Māori commercial aquaculture have been signed by Government Ministers today, including Primary Industries Minister Nathan Guy.
Three regional agreements have been signed with iwi from the Auckland, Tasman, and Marlborough regions following successful negotiations between the Crown and regional Iwi aquaculture organisations.
The agreements are the result of the Māori Commercial Aquaculture Claims Settlement Act 2004, which requires the Crown to provide Iwi aquaculture organisations with 20% of new commercial aquaculture space consented since October 2011, or anticipated to occur into the future. . .
Australian consortium said to be in no hurry to up their bid for A2 Milk – Fiona Rotherham:
(BusinessDesk) – Australian-based Freedom Foods and US-based Dean Foods are said to be in no hurry to up their bid for A2 Milk Co after the milk marketer this week told its suitors to try again after an initial offer wasn’t compelling and drew out as yet unnamed rival bidders.
A source close to the bidding consortium said they were underwhelmed by a trading update A2 Milk released at the same time as rejecting the offer and request for due diligence, saying it contained “nothing that would shift their view on valuation”.
Given Freedom Foods, the company’s previous joint venture partner in Australia, has a 19.1 percent blocking stake in A2 Milk, any rival bidders may struggle to get an offer across the line. . .
New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that today’s sale of 6,617 bales saw increases of 1 to 2 percent overall. A good result, considering offering of 52 percent Coarse Crossbred Early Shorn and Second Shear types.
There was good demand for shorter Second Shear types 2 to 3 inch 32 to 35 micron as buyers bid to cover Chinese orders.
The trade weighted indicator was little changed from the last wool sale on 16th July. . .