Fonterra has posted a $659 million profit and will pay farmers $7.19/kg milksolids for the 2019-20 season.
It has held the forecast for the 2020-21 season at $5.90-6.90/kg MS.
The dividend for the 2019-20 season is 5c a share.
Fonterra chief executive Miles Hurrell says 2019-20 was a good year for the co-op, with profit up, debt down and a strong milk price.
“We increased our profit after tax by more than $1 billion, reduced our debt by more than $1 billion and this has put us in a position to start paying dividends again,” he says. . .
Farmers and growers call for help with labour shortages – Katie Todd:
Farmers and growers say if agriculture is going to drag the country’s economy back into shape, they will need help to fix labour shortages.
While urban centres went into a strict lockdown in April and May – contributing to a 12.2 percent tumble in gross domestic product – agriculture, forestry and fishing saw only a marginal drop of 2.2 percent.
The pandemic has done little to disrupt business on Damien Roper’s south Taranaki farm, home to 420 dairy cows.
He said even in the throes of the level four lockdown, his classification as an essential worker made it almost business as usual. . .
Industry representatives met with Finance Minister, Grant Robertson in Hawke’s Bay earlier this week to discuss challenges facing the regional fruit and wine industry. The main item of discussion was around labour pressure for the coming grape, summerfruit and apple harvests – pressure that will see more than 10,000 seasonal workers needed.
Industry welcomed the Minister’s positive message that the government understood the issue facing these industries.
“With backpackers and Pacific seasonal workers down by 50,000, the industry is facing an incredibly difficult task across New Zealand this season,” says New Zealand Apples and Pears Inc (NZAPI) chief executive Alan Pollard. . .
A South Island tourism operator says he could have prevented redundancies if wasn’t for delays to a nature-based job creation scheme.
More than $1 billion was earmarked for the Jobs for Nature programme in May as part of the government’s cross-agency Covid-19 recovery package to run over four years.
Today, Minister of Conservation Eugenie Sage announced an extra $19.7 million for kiwi conservation aimed at reversing the decline of the species.
While the funding has been welcomed, some applicants have been waiting months in limbo unsure if they will get a green light. . .
Agcarm calls on the government to introduce managed risk to legislation. Its chief executive Mark Ross says that the rural sector faces many, and often conflicting, demands. “Our farmers and growers are faced with the challenges of growing more food and fibre in reducing hectares of available space. They are also being asked to reduce greenhouse gas emissions, keep up with international best practice, minimise residues and manage resistance.
“To support our farmers and growers to meet these challenges, we must allow them to have access to the latest technology and the most effective and sustainable animal medicines and pesticides to protect animals and crops from devasting losses,” he says.
In its election manifesto, Agcarm asks the new government to modernise the regulatory environment for new product approvals and base scientific decision-making on facts and evidence, not political popularity. . .
Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 121 more farm sales (+45.7%) for the three months ended August 2020 than for the three months ended August 2019. Overall, there were 386 farm sales in the three months ended August 2020, compared to 341 farm sales for the three months ended July 2020 (+13.2%), and 265 farm sales for the three months ended August 2019. 1,252 farms were sold in the year to August 2020, 7.2% fewer than were sold in the year to August 2019, with 22.9% less Dairy farms, 14.1% less Grazing farms, 15.3% less Finishing farms and 6.1% more Arable farms sold over the same period.
The median price per hectare for all farms sold in the three months to August 2020 was $25,657 compared to $25,346 recorded for three months ended August 2019 (+1.2%). The median price per hectare increased 10.8% compared to July 2020. . .