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OPINION: Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the cogs of Cabinet.
Farmers are feeling the pressure from banks.
Federated Farmers vice president Andrew Hoggard says rumours about the actions of some banks are swirling around the rural community and farmers are concerned about what this may mean for them short and long term.
He says he’s heard about contract milkers and lower order sharemilkers being refused overdrafts and of a succession plan being vetoed by a bank at the last minute.
Rural professionals have told Dairy News of banks giving the ag sector a wide berth on lending. One bank is said to have ceased all lending to the ag sector and others have pulled back massively or are much tougher about granting loans.
Investigation by Dairy News suggests that Rabobank is the only bank not cutting back on lending to the ag sector.
Hoggard says he’s trying to grapple with the issue and decide what action farmers should take.
“The present situation creates a whole series of challenges, especially when you look at all the expectations coming in the form of policies on climate change and fresh water. If farmers are to respond to these issues they may need to invest in infrastructure and if no one is interested in loaning them the money to do that they are locked in a bit of a hard place.”
Hoggard says the challenges facing farmers are prompting many to look at quitting the industry. But if the banks are not lending to people who might want to buy their farms that creates further issues for some would-be sellers.
“So the question for those wanting to sell is whether they will get the price they expect or are they going to have to hold on for years until the market settles down and they can walk away without having to take a bath. This is the perfect storm with multiple challenges happening at the same time.”
A recent survey by Federated Farmers shows that the proportion of its members feeling pressure from banks has risen in the last six months from 16% to 23%.
NZPork has appointed Auckland-based Paul Bucknell as its new chair.
The Government claims to have delivered on its election promise to protect productive farmland from emissions trading scheme (ETS) but red meat farmers aren’t happy.
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
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OPINION: Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the…