Soaring costs and a “profit squeeze” hitting the agriculture sector have farmers continuing to slash their budgets this year. DairyNZ chief executive Dr Tim Mackle says the rising costs hitting the sector were driven by interest up 39% feed 21 per cent and fertilizer 28% over the past 12 months. Tim Mackle says most farms will be feeling the “profit squeeze” and its important farmers identify must-haves and nice-to-haves to find areas to trim costs. His advice is to pause non-essential capital projects and share budgets with trusted advisors, bankers, accountants, and other farmers. He says it is great to get ideas from others about how they manage costs on their own farms. Total expenses for the 2022/23 season are forecast to jump to about $9 per kgMS up 11% on last season whereas the revised Fonterra Farmgate Milk Price midpoint is $8.30 / kg ms.
- Scott St John Will Step Down From The Fonterra Board, Effective From March Next Year
- A Big Celebration For The Dairy Women’s Network In Waikato Today As The Organisation Turns 25
- Snack-Sized Apple Business Rockit Global Is Expanding Into The South Island To Build Its Growing Base
- Newly Minted Agriculture And Trade Minister Todd McClay Plans To Visit India In The Next Fortnight
- A $600 Million Solar Farm Planned For The Mackenzie Basin Will Power Up To 100,000 Homes