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.
Ballance Agri-Nutrients achieved record sales for its financial year ended 31 May 2015.
The co-op returned $76 million to shareholders, chairman David Peacocke told the annual meeting of shareholders.
The results capped off a milestone year for Ballance, which celebrated 60 years since the first shares in legacy company, Bay of Plenty Fertiliser, were issued. Noting the co-op "not only survives but also thrives", he says its core value of collective strength remained unchanged while it evolved to meet the current needs of farming.
"What has changed is that farmers are busier, operating over larger properties and working within increasingly tight environmental demands. So along with a secure supply of the right nutrients, we continually broaden our scope to tailor our products, our technology solutions and our advice for today's farms, and the farms of the future."
CEO, Mark Wynne, says understanding change and making the most of it would see Ballance right for the next six decades.
Ballance's future focus includes the potential for redevelopment of its Kapuni ammonia urea plant, with a proposal due to go to shareholders in 2016.
"The big goal for us is a plant which ticks every box for efficiency, low carbon footprint, waste minimisation, quality and safety. Farms will always need fertiliser. The ideal for us is a state-of-the-art plant which is globally competitive, and can markedly increase the $150 million in forex savings we achieve on importation costs now. When you are thinking 60 years ahead, an investment in a secure, environmentally outstanding source of quality nutrients makes complete sense."
Shareholders approved constitutional changes that will see the co-op move from three wards to two, one in each island, with provisions for the board to move to national director elections over time. Peacocke says with Ballance now close to being a $1 billion business, it is important shareholders can choose from a deep pool of candidates to select the best directors with the best skills and experiences.
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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