(BusinessDesk) – Large-scale Nelson-based agricultural interests have stepped in to provide the final $11.5 million needed to finance the Waimea dam project, after an unnamed private investor pulled out of the deal.
The irrigators, who had previously said they had no resources of their own to complete the project, appear to have found the money and stepped back in, after deciding the private investor’s demands were becoming greedy.
BusinessDesk understands the Waimea Plains water users, including dairy farmers, horticulturalists and winemakers, became more comfortable about putting up their own capital when they realised they could use the same convertible notes financing formula for reducing their investment risk as the private investor had been proposing. . .
Local farmers help fund $102m Waimea Dam plans – Eric Frykberg:
Funding details of the revived Waimea Dam scheme near Nelson have been made public.
They involve 14 agricultural businesses agreeing to provide an extra $11.5 million to Waimea Irrigators Limited for the project.
The proposed dam would be 53m high and store 13 million cubic metres of water in a 70ha lake in the Lee Valley, inland from Richmond. . .
Latest export figures from Beef + Lamb New Zealand (B+LNZ) show New Zealand’s red meat exports (excluding veal and co-products) were up $1.2 billion (21 per cent) on 2016-17 to over $6.7 billion in 2017-18 on the back of sustained high value per tonne and increased volume for lamb, mutton, and beef.
“While the highlights of the season were record high average values per tonne for lamb and mutton, the average value of beef exports remained high since the marked increase in 2014-15,” says B+LNZ’s Chief Economist Andrew Burtt.
“Good farm-gate prices and strong average values per tonne for exports occurred throughout the season, even during the fast start to the processing season driven by the dry conditions in December 2017.” . .
UK retail giant Marks & Spencer (M&S) has become one of the first major clothing retailers to launch a menswear range with wool certified under the global Responsible Wool Standard (RWS).
The launch reflects the increasing importance that retailers are placing on developing truly sustainable products, underpinned by ethical land management and animal welfare practices by farmers.
The new range of men’s blazers and waistcoats feature New Zealand lambswool, grown by RWS-accredited, Wools of New Zealand growers. . .
Backers of a new $13 million hop breeding programme hope it will bolster exports by creating a signature style of New Zealand beer.
Wellington craft brewer Garage Project and Nelson-based hop grower Freestyle Farms are committing $7.95 million to the seven-year project.
The remaining $5.3m is being delivered by the Ministry for Primary Industries through its Primary Growth Partnership programme. . .
A strong food supply and healthy livestock are vital for the future of New Zealand’s primary industries and economy. The government reviews the tools that play an essential role in the fight against pests and diseases that threaten these.
The Environmental Protection Authority (EPA) today announced its decision on the chemicals it will reassess. Part of this review evaluates the benefits and potential health risks posed by pesticides – ensuring they meet environmental and health safety standards.
The EPA has ranked 727 chemicals with an A to F ranking, with A being the most harmful. Despite recent attention, Glyphosate has been given an E rating (low risk). . .
What’s happening on farms and orchards around New Zealand? Each week Country Life reporters talk to people in rural areas across the country to find out.
Te Ika-a-Māui/North Island
In Northland, temperatures have been nice and warm during the day all week but nights have been cooler, which means pasture growth is good but yet to hit full stride. Some farmers have delayed putting in summer crops like maize and turnips for another week while waiting for warmer temperatures. There has been concern about this week’s announcement on Fonterra’s milk prices but our correspondent says overall people are positive – so long as that milk price has a 6 at the front, things should be relatively healthy.
The first of the early potatoes are now being harvested in Pukekohe under dry conditions and in hard soil. The rain arrived on Thursday and Friday. Although the amount may struggle to reach 25milimetres, it will be close and useful for a few days. . .
• 100 young agricultural enthusiasts aged 18 – 25 from across the globe will be chosen to attend the summit in Brasilia, Brazil in November 2019
• One lucky Kiwi delegate will be chosen to represent New Zealand on the world stage
• This year’s theme: how to feed a hungry planet in a more sustainable manner
• Applications are now open until January 10, 2019
Now’s the time to step up and share your ideas with the world – that’s the call from Bayer New Zealand, which is on the lookout for a Kiwi delegate to represent New Zealand at the Youth Ag Summit in Brasília, Brazil from 4th – 7th November, 2019. . .
Winners in New Zealand’s most prestigious competition for olive oil were announced last night at a formal dinner held in Masterton. The New Zealand Extra Virgin Olive Awards are run by Olives New Zealand, the national organisation for olive oil growers.
Loopline Olives from Wairarapa took out the 2018 Best in Show as well as Best in Class in the Commercial Medium Single Varietal Class with their Loopline Picholene. Loopline also took out Reserve Best in Show with their Loopline Picual which was Best in Class in the Commercial Intense Single Varietal Class. . .
There is a heartening national effort taking place to safeguard the country’s biosecurity, says New Zealand Biosecurity Awards judging panel Chair, Dr John Hellstrom.
“We were excited to receive over 60 very high calibre entries, making the judging task difficult, but rewarding,” Dr Hellstrom says.
The Biosecurity Awards were established two years ago to recognise and celebrate exemplary contributions to protecting our taonga (precious natural resources) and ensuring New Zealand’s biosecurity system remains resilient, effective, and world-leading. . .