Regions with large agricultural bases have surging regional economies while those which relied heavily on tourism were struggling.
The latest quarterly figures from Westpac McDermott Miller showed that Gisborne/Hawkes Bay have recorded a huge bounce in confidence, followed by Nelson-Marlborough-West Coast and Taranaki/Manawatū-Whanganui.
It showed the “optimists now outweighed the pessimists” in most regions, except in Northland, Otago and Southland – although the news was not entirely grim for the southern regions which had been hard-hit by the Covid-19 linked downturn.
Senior agri economist Nathan Penny said the bounce in confidence for most regions was a reflection of the general rebound in the economy, helped by news of positive vaccine developments overseas. . .
Milk price forecast boosted by banks – Sally Rae:
Rabobank and ASB have both increased their farm-gate milk price forecasts to $7 for the 2020-21 season, following an improving dairy outlook.
Prices edged up again at last week’s GlobalDairyTrade auction — the last for the year — with an overall price increase of 1.3%.
Gains were strongest for the fat products; butter prices were up 6% and anhydrous milk fat up 1.9% while whole and skim milk powder lifted 0.5% and 1.2% respectively.
ASB economist Nat Keall said the result reflected the fact global demand was still holding up well, providing support for dairy prices. . .
The importance of our primary industries has been recognised with a new sector to be included in The 2021 Ford Ranger New Zealand Rural Games.
The Rural Games will now include Westpac Agri Futures in association with Property Brokers and this is to be held on Friday 12th March in Palmerston North.
Westpac New Zealand General Manager Institutional & Business Banking, Simon Power said Agri Futures is all about encouraging the next generation into agriculture sector careers.
“The demand for staff across rural New Zealand has only grown since COVID-19, and Westpac understands the need to support efforts to encourage more Kiwis to enter the rural workforce.” . .
Farmers and growers up and down the land will be pleased with the pragmatic decision by government to extend visas for migrant workers already on our shores.
“The six-month extension for employer-assisted work visa holders and the postponed stand down period for low-paid Essential Skills via holders will come as a relief for the primary sector heading into the Christmas and New Year period,” Federated Farmers employment spokesperson Chris Lewis says.
“We thank Immigration Minister Kris Faafoi for listening to our case for this, and recognising a common sense approach. . .
The New Zealand Rural Land Company (NZRLC) has had a quiet debut on the stock exchange, listing at a slight premium.
Its shares touched a high of $1.31 in early trading compared with the issue price of $1.25 in the recent share float, before settling at $1.28 with only small volumes being traded.
The company raised $75 million in the public share float, which along with debt will give it about $100m for rural land buying.
NZRLC plans to buy rural land and lease it to farmers or other producers. . .
The Tractor & Machinery Association Inc (TAMA) is offering to industry trainees who are studying towards a certificate or diploma.
There are several $500 scholarships available to industry trainees who can demonstrate their commitment and potential contribution to the industry. Applications for 2021 open on 18 January and close on 5 March with successful applicants advised in May.
TAMA general manager Ron Gall said the scholarships are part of TAMA’s wider efforts to encourage younger people to stay working in the industry and take advantage of the valuable career path it offers. . .