Editorial: Sensible move
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
KPMG's Ian Proudfoot says significant change is coming to New Zealand's primary sector and "farmers that ignore it do it at their peril".
Proudfoot was speaking this morning at Federated Farmers' National Conference Meat and Fibre AGM.
The world was on the cusp of a fourth industrial revolution and this would mean thinking more globally.
Kiwi farmers who could tell their unique story would prevail as the global consumer became more discerning about what they eat and where it came from.
"There is a fusion happening where digital, physical and biotechnological products will redefine how we live and farm," he says.
Still, the primary sector was up to meeting these challenges as changing market forces and conditions was something it was familiar with.
Being a developed country that relied heavily on agriculture, New Zealand's primary produce had to be better than anywhere else and the meat sector had to be prepared to invest in its future.
Better red meat industry collaboration would present opportunities but also the likelihood of some unavoidable lessons.
"We have to be prepared to share the risks of upsides and downsides. Too often we are quick to punish those that fail."
"Farmers need to get closer to the consumer and understand their lifestyles and aspirations," he says.
ANZ rural economist Con Williams says the technology is available but farmers needed a cultural shift in behaviour. With the global food chain increasingly going online farmers had greater access to understand their consumers and what they were willing to pay for and why.
John Loughlin from the Meat Industry Association (MIA) who opened the panel discussion says New Zealand meat farmers should stick to their principles of acting smart, being innovative and working hard to succeed.
"It's about targeting the affluent consumer and using the modern technological advances to our benefit."
The recent Brexit referendum in the United Kingdom would change market access with new players coming on the scene which would intensify competition.
This was also an example of how international market disruption can at any time influence our markets, he says.
Federated Farmers Meat & Fibre Chair, Rick Powdrell summed up the session: "Farmers need to accept change is inevitable and the speed is rapid. We need to use all the available tools to adapt to the future environment," he says.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
Holstein Friesian excellence was front and centre at the 2025 Holstein Friesian NZ (HFNZ) Awards, held recently in Invercargill.
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
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