Wednesday, 20 March 2024 10:55

Editorial: Rural confidence is rebounding

Written by  Staff Reporters
Farmer confidence looks to be on the rebound according to the latest Federated Farm Confidence Survey. Photo Credit: Paul Sutherland Photography. Farmer confidence looks to be on the rebound according to the latest Federated Farm Confidence Survey. Photo Credit: Paul Sutherland Photography.

OPINION: Farmer confidence is on the rise.

While concerns remain on farm around high interest rates, poor commodity prices and excessive red tape, the good news is that farmer confidence has risen from last year's record lows.

However, the rural sector isn't out of the woods yet. While Federated Farmers' latest Farm Confidence Survey may show that there has been a positive shift in the rural mood since 2023, when confidence reached its lowest point in the survey's 15-year history, tough times prevail on farm. Farmers are struggling with high inflation, high interest rates and lower commodity prices, and the impact of those on their profitability.

According to Federated Farmers, most farmers are still feeling that general economic conditions are bad, and most are still making a loss.

The survey shows that the four greatest concerns for farmers are debt, interest & banks; farmgate & commodity prices; regulation & compliance costs; and climate change policy & ETS.

The Government, nor anyone else, can do much about farmgate and commodity prices, there's still a lot that can be done to alleviate farmer concerns around banks. An independent inquiry into rural banking would be a good start.

One reason farmer confidence is rebounding is the new Government, which includes a record number of farmers, is talking about a real commitment to roll back some of the more impractical and expensive regulation that's undermined farmer confidence. But farmers want to see action.

Farmers are optimistic they will see confidence continue to lift in the year ahead, helped by an easing of unnecessary regulatory pressure on things like unworkable freshwater rules.

It's all about cutting red tape, making compliance on-farm easier, and getting the primary sector humming again. But for that to happen, the Government must come to the party. The primary sector will be watching closely.

More like this

Keeping a watch on dairy farms

OPINION: Dairy farmers are under increasing pressure to safeguard their livestock, equipment and operations from a range of security threats.

The basics of grazing

OPINION: When I left school in 1962, I worked on our family farm at Tikokino, but learning about farming wasn't a priority at the time because I had other distractions on my mind, such as fast cars and hot girls.

Editorial: Forest for the trees?

OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.

Editorial: Long overdue!

OPINION: The Government's latest move to make freshwater farm plans more practical and affordable is welcome, and long overdue.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

Featured

ANZCO Foods' net profit plunges

Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.

Editorial: Forest for the trees?

OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.

Protest planned outside dairy awards venue

As the dairy industry prepares to celebrate its top achievers at an awards night this Saturday, attendees are being warned to be aware of protests planned outside the venue – Baypark Arena, Mount Mauganaui.

National

Machinery & Products

Gongs for best field days site

Among the regular exhibitors at last month’s South Island Agricultural Field Days, the one that arguably takes the most intensive…

» Latest Print Issues Online

Milking It

Less hot air

OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where…

Dollars go offshore

OPINION: The Advertising Standards Authority’s 2024 report revealed that not only is social media rotting our brains, it is also…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter