Singapore visit underscores need for smarter marketing, says ASB’s Kristen Ashby
A recent trip to Singapore has highlighted the importance of marketing better, says ASB’s new head of food and fibre, Kristen Ashby.
Dairy prices are low and likely to stay that way a while longer, according to the latest ASB Farmshed Economics Report.
"After a drought-driven false dawn earlier this year, prices are at their lowest in five years," says ASB's rural economist Nathan Penny.
"This is driven by a potent mix of domestic production getting a second wind and demand remaining weak. However, we still expect production to slow down to the point where demand can catch up, just later than previously expected."
ASB has cut its forecast for the 2015-16 season to $5.70/kgMS as well as adopting Fonterra's lowered 2014-15 milk price forecast of $4.50/kg MS.
Penny says it also now expects the RBNZ to cut the OCR this year, most likely by 25bp in each of September and October.
"The lower interest rate outlook has let some of the hot air out of the NZD, and it has started to fall against most major currencies. Also in the end, the NZD never reached its threatened parity with the AUD. If we do see the NZD weaken over the year, the lower NZD will support farmers' export returns in NZ dollars and make NZ products more competitive in international markets."
Groundswell NZ is ramping up its ‘Quit Paris’ campaign.
A further ten commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme to help drive the uptake of genetics in the industry.
This morning, NZ Young Farmers (NZYF) has announced that Cheyne Gillooly will take over as its chief executive in June.
The message for the 2025 World Bee Day is a call to action for sustainable practices that support bees, improve food security, and protect biosecurity in the face of mounting climate pressures.
Consumers around the world are willing to pay more for products containing dairy and this is driving demand for butter and cream, says Fonterra.
Deputy Prime Minister Winston Peters often describes NZ as a small and isolated nation situated 'just north of the penguins' but says in terms of global affairs, NZ and other small nations should be judged on the quality of their arguments and not the size of their military.