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OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be, despite falling interest rates, and the report still paints a damning picture of rural lending.
The survey of more than 600 farmers conducted in November shows only 53% of respondents are currently satisfied with their banking relationship.
"That's a huge drop from 80% in 2017 and raises some serious questions about their behaviour," Feds' Richard McIntyre says.
Alarmingly, almost a quarter of farmers feel their bank doesn't allow them to structure their debt efficiently with 11% reporting being asked to use overdrafts for capital projects.
Forcing farmers to use their overdrafts for capital spending drives up interest costs for farmers and, surprising no one, it also drives up profit for the banks.
According to the latest Federated Farmers banking survey, farmers are more satisfied with their bank and less under pressure, however, the sector is well short of confidence levels seen last decade.
OPINION: Federated Farmers has launched a new campaign, swapping ‘The Twelve Days of Christmas’ for ‘The Twelve Pests of Christmas’ to highlight the most troublesome farm pests – a serious issue that needs some urgent attention from the Beehive.
Farmers are welcoming the announcement of two new bills to replace the under-fire Resource Management Act.
The Government has announced it will immediately roll over all resource consents for two years, with legislation expected to pass under urgency as early as this week.
Federated Farmers has launched a new campaign, swapping "The Twelve Days of Christmas" for "The Twelve Pests of Christmas" in an effort to highlight the most troublesome farm pests.
Primary sector leaders have welcomed the announcement of a Free Trade Agreement between India and New Zealand.
At Pāmu’s Kepler Farm in Manapouri, mating has wrapped up at the across-breed Beef Progeny Test.
More than 150 people turned up at Parliament recently to celebrate the 20th anniversary of Horticulture New Zealand (HortNZ).
Biosecurity New Zealand says Kiwis should continue to keep an eye out for yellow-legged hornets (Vespa velutina) over the holiday season.
The Push-Up Challenge, an event which combines mental health and fitness, is set to launch in New Zealand in 2026.
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
