Concerns mount over US-China trade spat
New Zealand trade officials are watching the escalating trade war between the US and China with mounting concern and anxiety.
A US farmer has been awarded US$265m (NZ$411m) in a lawsuit against herbicide providers Bayer and BASF.
According to The Wall Street Journal, a Missouri jury handed $15 million in actual and $250 million in punitive damages to the state’s largest peach grower, Bill Bader.
Bader sued Bayer and BASF after claiming his 1,000-acre orchard had been harmed by the companies’ herbicide that had drifted onto his tress from neighbouring farms in 2015 and 2016.
Bader sued the companies, claiming they encourage farmers to spray their dicamba-based herbicides irresponsibly.
The trial lasted three weeks and is the first case in the United States to make a ruling on the use of dicamba-based herbicides.
US farmers have alleged that dicamba-based herbicides can become vapour in some weather conditions.
They claim the vapour drifting across large distances has caused damage to tens of thousands of acres of cropland.
Bayer says it plans to appeal the verdict, whereas BASF is still to decide its next steps.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
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