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By: Anna Cross | New Zealand News | Thursday April 26 2012 5:39
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Farmer confidence has dropped as a result of the high dollar. The latest Rabobank Rural Confidence Survey has found almost a third of farmers expect the agricultural economy to worsen over the next 12 months. It's the first time farmer confidence has dropped into negative territory since August 2009. Rabobank New Zealand CEO Ben Russell says the fall can largely be attributed to the changing market conditions experienced by many agricultural producers early this year. They include declines in key commodity prices and a persistent high New Zealand dollar.
The high New Zealand dollar is also driving the decline, with 39 percent citing the dollar as the cause for their pessimistic outlook. Confidence is lowest among the sheep and beef sectors. |
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Thursday, May 23, 2013
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