Bank helps clients reduce emissions
Rabobank says climate change creates both risks and opportunities for the bank and its clients and that the food and agriculture sector needs to recognise the potential for both.
Butter prices last week burst through the US$6000/tonne mark for the first time in GDT Event history, hitting US$6004/t for the tenth time this year.
Rabobank dairy analyst Emma Higgins says supply is short, thanks to strong demand from consumers riding the trend to dairy fat.
“This started when the European milk pool slowed towards the end of 2016 so there was less milk to churn into butter,” she told Dairy News.
“At the same time demand was bubbling away, so now we have high demand for fat and low available supply. That’s why prices have been skyrocketing.
“European milk production has now come back on line but it will take some time to correct the structural change and the record change between butter and skim milk powder, or fat and protein.”
ASB senior rural economist Nathan Penny says while butter prices will eventually fall, generally higher butter or milk fat prices are here to stay.
“Demand has fundamentally shifted higher as consumers now accept that butter is no longer bad for you.
“This is good news for dairy producers globally, NZ included. In particular Fonterra is now spoilt for choice. Its recent added production flexibility means it can more easily optimise its production mix.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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