increase font size
B+LNZ Economic Service chief economist Andrew Burtt.
Sheep and beef farm input prices rose at a very slow pace in the year to March 2020.
On-farm inflation was 0.4%, according to the latest Beef + Lamb New Zealand (B+LNZ) Economic Service Sheep and Beef On-Farm Inflation Report.
The report identifies annual changes in the prices of goods and services purchased by New Zealand sheep and beef farms. The overall on-farm inflation rate is determined by weighting the changes in prices for individual input categories by their proportion of total farm expenditure.
B+LNZ Economic Service chief economist Andrew Burtt says large falls in interest rates held on-farm inflation at a low 0.4%.
“Of the 16 input categories, prices increased for 12 and decreased for four – fertiliser, lime and seeds; fuel; electricity; and interest – though the decreases were insignificant except for interest, which decreased by 7.2%,” says Burtt.
The most significant price increases were for insurance (+5.0%); repairs, maintenance and vehicles (+4.2%); rates (+3.7%); and animal health (+3.7%). On average these input categories account for 22% in total of farm expenditure.
“Even excluding interest, on-farm inflation was 1.5% – meaning it was already lower than the 2018-19 season, which may have given farmers a small reprieve,” says Burtt.
“Low interest rates continue to be important because not only does interest expenditure account for 14% of total farm expenditure, it is the only expense that has significantly decreased for farmers in recent years.”
The report covers the price of goods and services, not how much farmers spend on those goods and services.
As an example, individual farmers could have higher total interest expenditure due to higher debt levels, but on average will be paying less interest per dollar of debt.
Also, because the report covers the year to March 2020 the prices identified would not have been affected by COVID-19 and Burtt says it’s too early to know what impact the pandemic will have on on-farm inflation figures.
The full report is available here.
Recent widespread autumn rain will have triggered the germination of subterranean clover seeds, and the resulting seedlings should be allowed to reach the 3–4 trifoliate leaf stage before grazing, says Beef+Lamb NZ.
A Māori-owned agribusiness helping to turn a long-standing animal welfare and waste issue into a high-value protein stream for the dairy and red meat sectors wants more industry support.
The vineyards at Pyramid Farm in Marlborough’s Avon Valley have never been run of the mill, with plantings that follow the natural contours of the land, 250 metres above sea level.
Ahead of the World Butchers' Challenge, the captains of 14 nations’ teams squared off in Paris over the weekend.
A hub farm in each of Beef + Lamb NZ’s seven regions and more focus groups are being rolled out for the red meat sector this year.
On the eve of his departure from Federated Farmers board, Richard McIntyre is thanking farmers for their support and words of encouragement during his stint as a farmer advocate.
A project reducing strains and sprains on farm has won the Innovation category in the New Zealand Workplace Health and Safety Awards 2025.
Beef + Lamb New Zealand (B+LNZ), in partnership with the Ministry for Primary Industries (MPI) and other sector organisations, has launched a national survey to understand better the impact of facial eczema (FE) on farmers.
One of New Zealand's latest and largest agrivoltaics farm Te Herenga o Te Rā is delivering clean renewable energy while preserving the land's agricultural value for sheep grazing under the modules.
Global food company Nestle’s chair Paul Bulcke will step down at its next annual meeting in April 2026.
Brendan Attrill of Caiseal Trust in Taranaki has been announced as the 2025 National Ambassador for Sustainable Farming and Growing and recipient of the Gordon Stephenson Trophy at the National Sustainability Showcase at in Wellington this evening.
OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…
OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?
