Meeting the market – Sally Rae:
A group of Silver Fern Farms supplier shareholders, led by chairman Rob Hewett, recently flew to China, visiting Shanghai, Inner Mongolia and Beijing. Agribusiness reporter Sally Rae joined the group to learn more about opportunities, and challenges, in the country.
Diverse and complex – that’s China.
It’s a country of extreme contrasts; travel from Shanghai Pudong International Airport to the inner city on the maglev train and reach a relatively sedate speed of just over 300kmh (it has a top speed of 430kmh).
City footpaths are swept by old-fashioned straw brooms, while latest model cars sweep past, somehow – albeit narrowly – avoiding the melee of ubiquitous scooters, bicycles and pedestrians. . .
Chilled meat market to come – Sally Rae:
Chilled meat exports to China are likely to be “some time away yet”, Silver Fern Farms chairman Rob Hewett says.
In April, Prime Minister John Key announced New Zealand and China had agreed to protocols relating to chilled meat.
That was lauded as being set to add hundreds of millions of dollars in returns from red meat exports. . .
A project that provides fresh ways to improve water quality in New Zealand rivers opened to the public today.
IrrigationNZ CEO Andrew Curtis said “The Hinds/Hekeao Managed Aquifer Recharge project will take clean Rangitata River water and put this into the aquifer, helping solve current water quality issues as well as improving stream flows.
“The recharge project in combination with improving farm environmental performance, through nutrient limits and audited farm environment plans, will allow waterways in the zone to regenerate and thrive,” he said. . .
Fieldays focus on helping rural businesses shift to the cloud
Despite the challenging effects of the dairy downturn, businesses in rural New Zealand remain focused on growth strategies, with strong investment intentions for the coming year according a new report on the sector released on the eve of Fieldays.
The latest MYOB Colmar Brunton Business Monitor survey of 210 businesses from across rural New Zealand highlighted that over half (57 per cent) acquired new machinery and equipment in the last year, a third (33 per cent) invested in technology and just under a quarter (23 per cent) spent money on employee training. . .
A2 Milk lifts guidance for full-year sales, earnings as trading exceeds targets – Jonathan Underhill
(BusinessDesk) – A2 Milk raised its guidance for full-year sales and earnings, saying trading is exceeding its targets and the milk marketing company is well placed to cope with changes to regulations for infant formula in China.
Revenue is forecast to be in a range of $350 million to $360 million in the year ending June 30, from a previous forecast of $335 million to $350 million. Operating earnings before interest, tax, depreciation and amortisation are projected to be $52 million to $54 million, up from the $45 million-to-$49 million range it gave with its first-half results in February. . .
(BusinessDesk) – PGG Wrightson raised its earnings guidance, saying its retail unit is likely to beat last year’s record result, although the rural services firm expects 2017 to be tough.
Earnings before interest, tax, depreciation and amortisation are expected to be between $65 million and $68 million in the year ending June 30, up from a previous forecast for ebitda of $61 million to $67 million, the Christchurch-based company said in a statement. That’s still down from $69.6 million a year earlier due to the slump in dairy prices eroding farmers’ incomes. . .