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 has recorded a strong profit for the 2019-20 financial year.
The fertiliser cooperative received a profit before tax, bonus share issue and rebate of $69 million, compared to $52 million in the 2018-19 financial year.
It says it will be returning a total of $68 million to its eligible farmer shareholders.
The co-op says it is confident in its financial strength and cautiously optimistic in the face of uncertainty around Covid-19 and emerging government policy.
Ravensdown Chairman John Henderson. |
In addition to a previous non-cash bonus share distribution in March of $40 million, including imputation credits and a further rebate of $25 per tonne of fertiliser purchased in 2019-20, Ravensdown says it was able to increase spending on its physical infrastructure to $28 million and repeat its 2018-19 spend on R&D ($5 million).
Reduced inventory and strong cashflows throughout lockdown meant that Ravensdown finished the financial year with no net debt and an operating cashflow of $143 million, versus $31 million in 2018-19.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
OPINION: The distress that the politicians and bureaucrats are causing to the people of Wairoa and the wider Tairāwhiti is unforgivable.
Dairy
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.