Well-placed to weather conflicts
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
Ravensdown returned savings of about $1.3 million to its farmers.
The savings are thanks to the difference between the two superphosphate manufacturers' web-listed price for customers buying super-based products between September 1 and December 1.
Since 1 September, when Ravensdown capped its spring season super price at $320 per tonne, the value difference compared to the only other superphosphate manufacturer in New Zealand has been $7 per tonne. Some products, such as sulphur superphosphate, saw a $13 per tonne difference across the three months.
"Keeping prices capped and that low for the crucial spring months adds up to an early rebate for customers who needed the money more than we did," says Greg Campbell, Ravensdown chief executive.
From December 1, Ravensdown is taking the lead and reducing potash by $20 per tonne and ensuring other products such as urea and DAP are currently unchanged at $575 and $875 per tonne respectively.
"By moving superphosphate up $10 to $330 per tonne from 1 December, we effectively delayed the impact of any price rise during those important spring months," says Campbell.
"Even with this move, we continue to shield shareholders from the full cost of their superphosphate. We'll continue to closely monitor both global commodity prices and the falling exchange rates over the summer months.
"Despite exchange rate pressures and short term volatility, we are seeing gains in our operational efficiencies and our global suppliers supporting us as we strive to deliver all-year value to shareholders."
As farmers potentially face an El Nino summer, early superphosphate application is advisable to miss the rush before autumn rains hit. Meanwhile N-Protect, which is a coated urea product that reduces losses of nitrogen to the atmosphere, is proving valuable in hot and dry conditions.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.