Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
The first priority for the partnership is to develop a rural specific national strategy, which is expected to be in place early next year.
Farm Source group director Richard Allen says for generations the RST has been standing by rural communities and have a long history of showing up and helping when times are tough.
“Fonterra has worked successfully with the RST for some time but more action is needed and this new partnership will help strengthen our wellbeing support throughout the country,” he says.
“Developing a national, long-term strategy with clear objectives and actions that address mental health and other rural challenges is simply the right thing to do.
“Farming is an animal and produce business, but it’s also very much a human business. It’s right to show up for communities during events and emergencies, but the partnership also recognises an ongoing need for support of, and commitment to, New Zealand communities.”
Neil Bateup, chair of the National Council of RSTs, says Kiwi farmers and growers run pretty special businesses, but the businesses are vulnerable to a bunch of significant external factors – many of which are out of their control.
“A good example is the extreme weather and flooding experienced across parts of New Zealand recently.
Farmers are also feeling increasing pressures due to things like rising on-farm costs, the labour pinch and increasing compliance obligations.
“We’ve come a long way in the last decade or so, in that there’s more recognition that mind health is just as important as physical wellbeing, but we know there’s still a lot of work to do in this area.”
