Lamb returns forecast to remain low
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
ANZ is extending its assistance package to farmers anywhere in New Zealand affected by extreme dry conditions.
The bank says it will commit an initial $50 million to the assistance package, but will extend that if demand for help from farmers is high.
The announcement follows an official declaration of drought yesterday, covering much of the South Island's east coast.
ANZ last month launched a package recognising the challenges faced by South Island farmers affected by extreme dry conditions.
"We recognise that the Big Dry is also affecting farmers in other areas, including parts of the North Island," says Graham Turley, ANZ Bank's managing director commercial & agri.
"Dry conditions are widespread, with localised areas of severe impact. Our package is designed to offer targeted assistance, recognising that the situation may require more complex solutions for some."
"We'd encourage farmers to act early and engage advisors to develop a plan, including a two-year cash forecast, consulting with their bankers on funding requirements."
The options available to affected farmers through ANZ are:
• Suspending loan principal repayments
• Waiving fees associated with restructuring business loans considered necessary due to impacts of extreme weather
• Waiving fees for term finance and investments which improve performance and the ability to respond to climatic variation in future years
• Waiving the interest rate reductions associated with accessing funds on term deposits ahead of maturity date
• Providing access to discounted short-term funding to help farmers get through the immediate challenges while also protecting their long-term productivity.
Turley says the impacts of drought go beyond finances and are a major source of stress for some customers.
"Serious weather events cause significant challenges and anxiety. We urge farmers to communicate regularly with their family, advisors and support networks."
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.
A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.
One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it was before Cyclone Gabrielle struck just over 14 months ago.