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ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
While the uncertainty caused by COVID-19 continues, ran has brought some drought relief over the past week, says ASB senior rural economist Nathan Penny.
In his weekly commodities report, Penny says more rain is forecast.
“Over the past week, rain has brought drought relief to some drought-hit regions. Notably, drought conditions have eased in the Waikato and Northland,” he says.
“The lower North Island and the Coromandel appear to have missed out, but further rain is forecast around much of the country over the next seven days.
“While the rain is welcome, in some locations, the timing of the rain has meant that it is contributing more to setting up for next season than “saving” this season.” February dairy production was down 1.8% on February 2019, while meat processing capacity remains stretched in many regions. Penny notes that outside of the drought-hit regions, some parts of the South Island have had strong growing seasons.
“Anecdotally, crop yields and dairy production have been strong in parts of Canterbury,” he says.
Meanwhile, a hot summer hasn’t hampered kiwifruit production. The industry expects a 5% lift in this season’s harvest compared to last season, although some of the lift will be due to new plantings.
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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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