Annette Scott, Author at Farmers Weekly https://www.farmersweekly.co.nz NZ farming news, analysis and opinion Tue, 24 Sep 2024 01:34:07 +0000 en-US hourly 1 https://www.farmersweekly.co.nz/wp-content/uploads/2022/06/cropped-FW-Favicon_01-32x32.png Annette Scott, Author at Farmers Weekly https://www.farmersweekly.co.nz 32 32 Wanted: a volunteer for a mushroom mission https://www.farmersweekly.co.nz/people/wanted-a-volunteer-for-a-mushroom-mission/ Tue, 24 Sep 2024 03:15:00 +0000 https://www.farmersweekly.co.nz/?p=98573 The Daughters of Mary Immaculate in Vunapope, Papua New Guinea, want to learn about cultivating fungi for nutrition and to raise funds for their women’s shelter.

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Food production of natural resources is a goal for Papua New Guinea but attracting a mushroom expert to get started is proving a challenge.  

Volunteer Service Abroad (VSA) is committed to building sustainable communities across the Pacific but has had one particular vacancy for a mushroom cultivator in Papua New Guinea (PNG) unfilled for 252 days and counting.

This is despite reaching out to mushroom businesses across New Zealand who have not, so far, had the capacity to help. 

“So, we’re widening the net and hoping a story in the media might spur a couple of applications,” VSA country programme adviser Ngaire Tihema said.

Bringing in a Kiwi mushroom cultivator for a four- to six-month assignment means the  Daughters of Mary Immaculate (Filae Maria Immaculata, or FMI) congregation of Vunapope, who run a women’s refuge-style facility in PNG, will be able to produce fresh mushrooms for sale.

This will go some way to becoming self-sustaining financially and will also mean that the community has access to locally grown, nutritional mushrooms. 

“In PNG, there is a significant shortage of trained horticulturists who can provide technical support to locals and instead, most farmers rely on traditional knowledge, which is often insufficient to address the modern challenges such as pest control, disease management and seed quality in agriculture,” Tihema said.

“Food security and nutrition in PNG is a major issue and a lot of processed foods are becoming common because many Papua Guineans are not looking at their own food sources or knowing what to do with it,” Tihema said

“Mushrooms grow in the wild here and no one is cultivating them because they don’t know what to do with them.”

Tihema said farming is not seen as a “particularly noble profession” in PNG and young Papua Guineans are turning away from it. 

“Imagine mushrooms from the paddock to the plate and there are plentiful resources of other fruits and vegetables too. 

“We just need more priority for agriculture and that will hopefully come with the focus on increasing awareness of agriculture, food production and getting young people into agriculture.”

The main aim of the Mushroom Cultivation and Production Trainer assignment is to support the FMI Sisters in generating sustainable income for their vital work, which involves providing safe housing and care for women, young people and children in PNG.

Currently, mushrooms are imported and retail between 80 and 100 kina ($32-$40) a kilogram.

The assignment is also designed to enable the trainer to teach and mentor prospective mushroom farmers in the community, helping them understand costs, market dynamics, and the profitability of mushroom sales. 

“By training and mentoring individuals to grow mushrooms locally, we aim to contribute to poverty reduction, economic empowerment, and greater resilience against food insecurity, ultimately enhancing health outcomes and livelihoods.

“Furthermore, mushroom farming promotes skill development within the community, enabling farmers to adopt sustainable cultivation methods that encourage co-operation, development, and inclusive, shared economic growth.”

In areas where diets are primarily composed of staple crops and ultra-processed foods, mushrooms offer a nutrient-rich alternative that helps diversify local food sources and reduces dependency on imported items. 

Currently, mushrooms are imported and retail between 80 and 100 kina ($32-$40) a kilogram.

If you are an experienced professional in mushroom cultivation, looking for an extraordinary overseas experience in the Pacific to build into your field of expertise then, Tihema said, “we have an exciting opportunity in store for you”.

The FMI Sisters’ tradition of selfless service began more than 100 years ago. Since 1912 the FMI Sisters have demonstrated steadfast resolve to support women and communities in pursuit of a better society.

The VSA assignment is a partnership between VSA and the FMI of Vunapope. 

All volunteers are flown in and out of the country, accommodated, and paid a living allowance.

To change your scene and become a VSA Volunteer and share your experience, knowledge, and skills to transform the lives of many, email volunteer@vsa.org.nz or or visit the website.


In Focus Podcast | Sheep outlook: the future of our flock

Sheep farmers are doing it tough right now, with farmgate returns dropping back after a few good years and input costs rising. Add to that the march of pine trees across the land, and there’s talk of an existential crisis. Bryan asked AgriHQ senior analyst Mel Croad to give him the lay of the land and asked her what the sector needed to do to find prosperity again.

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AngusPRO NZ member joins Angus Australia board https://www.farmersweekly.co.nz/people/anguspro-nz-member-joins-angus-australia-board/ Mon, 23 Sep 2024 01:30:00 +0000 https://www.farmersweekly.co.nz/?p=98461 Ben Todhunter from Cleardale Angus selected as an optional appointed director.

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In a first for AngusPRO New Zealand, member Ben Todhunter from Cleardale Angus in the Rakaia Gorge has been selected as an optional appointed director of Angus Australia.

Todhunter brings extensive experience and skills to the position, in particular, NZ beef industry knowledge. 

Having representation at board level is encouraging on many levels, AngusPRO chair Tim Brittain said.

 Todhunter runs the Cleardale Angus herd alongside Cleardale Merino and Cleardale SX Fine Wool sheep studs. 

A graduate from Lincoln University, he also holds an MBA from the Graduate School of Business, University College Dublin, has been a Nuffield Scholar and a Kellogg Rural Leadership Scholar. 

He is a director and deputy chair of the NZ Merino Company Limited. 

Angus Australia chief executive Scott Wright acknowledged that Todhunter has been a key NZ-based member.

“He shines out as being a positive contributor to the Angus community and in our member interactions in NZ. We look forward to his involvement at a board level,” Wright said. 

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Wool trend puts a smile on sellers’ dials https://www.farmersweekly.co.nz/markets/wool-trend-puts-a-smile-on-sellers-dials/ Fri, 20 Sep 2024 01:33:56 +0000 https://www.farmersweekly.co.nz/?p=98330 Offering of fewer bales than expected helps drive up the price.

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The simple supply and demand curve ruled the fortnightly auction in Napier this week with sellers emerging as the grinners. 

PGW North Island procurement and sales manager Steve Fussell said the number of bales offered this sale was around 40% under the rostered amount planned.

“With a full bench of buyers, the sale ended most certainly in sellers’ favour as longer wool types held the most demand, with second-shear wool facing strong bidding throughout the sale,” Fussell said. 

Crossbred fleece lifted 4% with good style selling at $3.55/kg (clean), average style $3.40 and poorer $3.17 while second-shear ranged in price from good style longer length at $3.38 down to shorter average style at $3.17.  

Looking across the board, PGW general manager wool Rachel Shearer said the wool market has seen mixed results see-sawing across both islands of recent weeks with some auctions favouring sellers and others tipping in buyers’ favour. 

Highlights include fierce competition for specialty wools and a buzz around fine wool in Christchurch, thanks to international interest.

The latest trends from the wool auction have generally seen specialty wool types sparking intense bidding, with strong demand driving prices higher.

In the South Island, the recent Christchurch sale marked the first of the weighted fine wool offerings for the season. 

One of the main Australian wool exporters entered the fray, adding extra competition and a noticeable buying buzz to the room.

“The result was an upbeat atmosphere and almost a full clearance of lots in the sellers’ favour. 

“Some Merino growers, seated in the room, watched as their wool went under the hammer, generally seeing positive results.”

However, crossbred wool offerings in the south continued to favour the buyers, similar to trends seen in the North Island throughout August. 

A limited supply of this type of wool kept the market steady, but it remains to be seen whether pricing will improve as the season progresses, Shearer said.

One surprising trend across both islands has been the stronger-than-expected prices for lower-quality wools, both fleece and oddment types. 

India has been particularly active in this market, although the rising New Zealand dollar appears to be creating a bit of a standoff with demand from India beginning to taper off. 

The Chinese market has also been chasing these lower-grade wools, which has helped elevate prices to date. 

“With fewer crossbreds expected on the market over the next few months, the dynamics may remain steady, but whether this translates into better pricing for the entire season is still unclear,” Shearer said.


In Focus Podcast | Sheep outlook: the future of our flock

Sheep farmers are doing it tough right now, with farmgate returns dropping back after a few good years and input costs rising. Add to that the march of pine trees across the land, and there’s talk of an existential crisis. Bryan asked AgriHQ senior analyst Mel Croad to give him the lay of the land and asked her what the sector needed to do to find prosperity again.

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Synlait lives to fight another day https://www.farmersweekly.co.nz/news/synlait-lives-to-fight-another-day/ Wed, 18 Sep 2024 04:10:05 +0000 https://www.farmersweekly.co.nz/?p=98120 Key resolutions approved at special shareholders meeting.

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Synlait chair George Adams has described the outcome of the special shareholders meeting  as “a watershed vote for Synlait”. 

“There was no option, there really weren’t any Plan Bs, the reality is this has saved [the company from] liquidation,” Synlait chair George Adams said.

“We have been extremely clear that should the resolutions not pass, Synlait would likely need to cease trading and initiate a formal insolvency process.

“We were also clear the board did not believe that insolvency was the best option or the best way to ensure creditors are paid and returns are delivered to shareholders.”  

The three resolutions put to shareholders at its special shareholders’ meeting at Dunsandel on Wednesday 18 September passed, all with more than 90% approval

“Shareholders have given us the opportunity to create a positive future for the company, its investors, 200 farmers, customers, suppliers and for our 1400 employees whose livelihoods rely on our business.” 

To reduce Synlait’s debt, shareholders were asked to vote on the issuance of approximately $217.8 million of new equity capital to the company’s two largest shareholders, Bright Dairy Holding Limited (Bright Dairy) and The a2 Milk Company, as well as Synlait’s settlement with The a2 Milk Company. 

Shareholders were also asked to vote on certain administrative amendments to Synlait’s constitution. 

The equity raise is conditional on the refinancing of Synlait’s bank facilities and certain other conditions. 

Synlait entered definitive documentation to implement the refinancing of its banking facilities on September 16.

The equity raise, the settlement with The a2 Milk Company, and the bank refinancing are all inter-conditional and therefore must all occur contemporaneously, or substantially contemporaneously with each other, or not at all, Adams said. 

Completion of all three components is expected on October 1, subject to the final conditions precedent to the equity raise and refinancing being satisfied. 

Shareholder and dairy farmer supplier Willy Lefrink was happy with the result. Photo: Annette Scott

Bright Dairy-appointed director Julia Zhu acknowledged the strong Synlait shareholder vote of support for the company’s initial step to address its current debt position.

“Our commitment throughout this process has been to protect the long-term value of Synlait and our decision to participate further reflects the scale of our ambition to ensure Synlait rebuilds stronger, while restoring farmer supplier confidence over coming years. 

“We will continue to advocate that all shareholders are afforded the opportunity to participate in the company’s next capital management initiative.  

“As Synlait’s broader turnaround initiatives start to gather momentum, Bright Dairy looks forward to actively supporting growth initiatives across major Asian markets where the long-term fundamentals for Synlait’s product remain strong,” Zhu said.

Adams did not necessarily consider Synlait out of the woods.

“Today is the first step to re-set our financial position,” he said.

In its favour, he said, Synlait has world-class facilities with exceptional capability in quality and innovation.

“Synlait can deliver products that other New Zealand companies cannot. It is the largest infant milk formula manufacturer in the southern hemisphere, that is why it has committed to global customers.

“In addition, at Pōkeno we now have a facility that can produce advanced nutritional products incorporating plant-based ingredients.

“We remain focused on expanding our early life and adult nutrition in China and throughout southeast Asia alongside the expansion of our Foodservice UHT cream business.

“In the shorter term we have a strong commitment to cost control and bedding in new operational processes with The a2 Milk Company.  

“This all makes Synlait a company worth saving.”

Adams said the Dunsandel facility will remain the focus for dairy operations.  

He said the immediate action is to talk to farmers about cease notices.

Shareholder and dairy farmer supplier Willy Lefrink was happy with the result.

“It is the outcome I wanted to see for farmers, for a lot of staff, and for Canterbury as a whole; it is a positive step going forward,” he said.

“It would have been disastrous if the vote had gone any other way, it’s onwards and upwards from here.”

Shareholder and former Synlait director Ruth Richardson said the Synlait DNA has always been at the premium end of the product.

“Today is a substantial vote of confidence and will help turn the promise of the company into performance and the more the whole of the sector can focus on the premium end the more prosperous NZ will become,” Richardson said.     

With respect to Synlait’s listed subordinated bonds (SML010), the company  reminded holders that following the passing of the three resolutions, subject to completion of the equity raise taking place as anticipated, a change-of-control event will occur in relation to the bonds and holders will have the right to redeem their bonds early from October 1, 2024. 

The redemption price is expected to be $1.00 per bond (plus accrued interest) if the trading price continues to be less than $1.00. 

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Threatened mudfish safe on Craigmore farm https://www.farmersweekly.co.nz/news/threatened-mudfish-safe-on-craigmore-farm/ Mon, 16 Sep 2024 02:32:51 +0000 https://www.farmersweekly.co.nz/?p=97864 Critically endangered species found thriving in South Canterbury spring.

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The Department of Conservation has netted more than 70 critically threatened endemic freshwater fish on a South Canterbury dairy farm.

Found only in Canterbury, the Kōwaro or Canterbury Mudfish was discovered at Craigmore Sustainables’ Somerset dairy farm south of Timaru.

The population of mudfish was found living in the farm’s irrigation spring, an ideal habitat, the DoC said, for mudfish because of the clean, clear water and the dense aquatic plant growth. 

Following visits by DoC staff in April and May, the team netted 72 mudfish ranging in length from 77mm to 149mm. 

Somerset business manager Alex Pattullo said the discovery follows the completion of a comprehensive waterway restoration project over the past two years. 

“We have replaced the old diesel irrigation pump with a new electric pump to reduce risk of any chemical leaching or contamination and fenced the site to stock-proof it.

“In addition, more than 2760 native plants consisting of dry woodland shrubs and trees, as well as flax and reed plants have been planted at the water edge. 

General manager of farming Stuart Taylor says Craigmore has sustainability programmes in place to ensure a balance between respecting the environment and running a sustainable and profitable business.

“This will ensure a regenerating native bush block around the site, providing shade, shelter and food for many native and endangered species,” Pattullo said.

A report by the DoC says the riparian planting is “extensive and has a variety of species”.

The report concludes that the composition of macrophytes (acquatic plants) in the water is diverse and representative of good water quality and stable hydrology, both good indications of habitat quality. 

The water itself has excellent clarity, probably because it is spring-fed and largely free of stock, the report says,

Craigmore’s general manager of farming, Stuart Taylor, said the company regards it as a privilege and a serious responsibility to be entrusted to manage land, soils, water and other natural resources in New Zealand.

“Craigmore has a number of sustainability programmes in place to ensure we strike a balance between respecting the environment and running a sustainable and profitable rural operation.

“We strive to grow healthy and safe products while at the same time protect and enhance soil and water quality,” Taylor said.

“We’re committed to leaving the world in a better place and allow the generations that follow to continue to earn a living from the land.”

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BLNZ roadshow connects with farmers https://www.farmersweekly.co.nz/people/blnz-roadshow-connects-with-farmers/ Thu, 12 Sep 2024 23:44:40 +0000 https://www.farmersweekly.co.nz/?p=97685 More than 400 attend meetings across the country, having their say on organisation’s refreshed strategy.

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Beef + Lamb New Zealand has wrapped up its roadshow, with more than 400 farmers attending 30 meetings across the country.

BLNZ directors hit the road from July through to September to hear from farmers, in particular to test the organisation’s thinking on policy and deliver detail on its refreshed strategy.

Chair Kate Acland said discussion at the sessions was constructive with lots of good suggestions raised.

“I know things are busy on farm and I really appreciate farmers coming along to talk to us in person. As farmer-elected directors, we enjoy the opportunity to check in.” 

There were some clear themes across the meetings.

“We wanted to give farmers some detail about BLNZ’s refreshed strategy, and to see if they felt we’d gotten the balance right. 

“It appears the refreshed strategy was generally well received, and farmers particularly liked the focus on extension and on-farm profitability. 

“Some even gave us ideas for how we can implement the strategy,” Acland said.

Addressing the organisation’s thinking on policy, there was generally good support for the policy positions tested.

Attendees were given information about BLNZ’s approach to National Bottom Lines for suspended fine sediment and E coli; positions on regulated freshwater farm plans; and initial climate change positions. 

In the discussions on national bottom lines, clear themes came through, such as the importance of catchment-level involvement in setting water quality targets and having quality information to work with.

There was also a lot of helpful feedback on the risk-based approach to freshwater farm planning.  

“Farmers provided thoughtful reasons for why they agreed or disagreed with positions, which helps BLNZ to further develop our policy positions. 

“However, this is an ongoing process and there will be plenty of other opportunities for farmers to feed in as we further develop policy positions on these and other topics. 

“We want to ensure the farmer voice is reflected in our advocacy.” 

The next opportunity for in-person policy discussions will be at a series of workshops on climate change policy set down for October. 

Overall, Acland said, from initial analysis of feedback, farmers strongly agreed the meetings provided enough opportunities for input and were a good use of their time. 

“It’s great to hear farmers felt the meetings were worthwhile. 

“I encourage farmers to talk to their local farmer director any time they have questions or concerns; contact details are available on our website.” 

BLNZ staff are working through information gathered at the meetings and will provide a full report-back to farmers in the coming weeks.  


In Focus Podcast | A new strategy for advocacy

AGMARDT and KPMG have released a report that offers a new way of organising our advocacy networks. Common Ground assesses the positives and negatives of the advocacy groups we have now and sets out a strategy that could improve the collaboration and messaging emanating from the farming world. AGMARDT general manager Lee-Ann Marsh joins Bryan to discuss the report.

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Century Farm and Station deadline nears https://www.farmersweekly.co.nz/people/century-farm-and-station-deadline-nears/ Wed, 11 Sep 2024 21:38:00 +0000 https://www.farmersweekly.co.nz/?p=97543 Families wanting to celebrate 100 years on more of farming invited to apply for awards.

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The deadline is nearing for farming families with a long heritage of farming their land to submit their application for this year’s intake for the New Zealand Century Farm and Station awards.   

Families who have farmed their land since 1924 or earlier are eligible to apply for the special acknowledgment of their hard work and perseverance with applications due by November 30, 2024. 

Judging by the number of applications already in, it’s gearing up to be another good year NZCFSA chair Edward Fitzgerald said. 

He said the 2023 event held earlier in the year at Lawrence, Otago, was a “huge hit with visiting families and the committee continues to receive accolades from those who attended”.

“The award recipients find the whole process a very rewarding and emotional experience, from the gathering of their farming history through to the coming together of extended family at the awards ceremony.  

“It is a chance for all generations to reflect on the challenges and achievements over 100-plus years and share those memories, which are often very similar, with other farming families.  

“The committee firmly believe that keeping any farm or station in a family from generation to generation through challenging times is an impressive achievement and deserves to be recognised.” 

The Herbert family from Waikato receive their award at the 2024 ceremony in Lawrence.

The programme began in 2005 in Lawrence with an aim to capture and preserve family histories of pioneering families and their descendants.  

Eligible families submit narratives of their farm history together with copies of related photographs and supporting documents, which are then archived at the Alexander Turnbull Library in Wellington, ensuring all records are kept in perpetuity.

A formal dinner in Lawrence each May honours the awardees and their significant achievement of 100 or more years in farming.

It is a chance for recipients to meet each other and formally receive their distinctive bronze plaque and certificate to display on their property.

In the 19 years of the awards more than 630 families from throughout NZ have joined the exclusive circle of centenarians and sesquicentenarians. 

The programme has a “first in, first served” policy, capped at 40 families per year, for each awards event.  

Families are encouraged to get their application in early to avoid disappointment.

Further information including the application form can be found at www.centuryfarms.co.nz  

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Live-export restart would find slower market https://www.farmersweekly.co.nz/markets/live-export-restart-would-find-slower-market/ Wed, 11 Sep 2024 00:50:00 +0000 https://www.farmersweekly.co.nz/?p=97485 Chinese dairy heifer demand has dropped away, with emerging markets yet to take its place.

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New directions for live dairy cattle exports could see New Zealand competing with Australia in a hunt for new and emerging market opportunities. 

Any re-start of NZ live cattle exports is expected to face headwinds against the slowdown in Chinese demand as bearish farm sector fundamentals in China point to slower trade for the foreseeable future, according to a new industry report.     

The just-released Rabobank report – New Directions for Oceania Live Dairy Cattle Exports – shows NZ’s focus on dairy heifers to China was a lucrative market for farmers across much of the past decade, offering significant trade opportunities and attractive prices for dairy cattle. 

But with a government ban on live animal exports by sea in place since April last year, and Chinese demand for dairy heifers waning, future prospects for the sector are far less certain, report author RaboResearch senior dairy analyst Michael Harvey said.

Recently, a change of government in NZ has prompted discussions of a possible shift in policy, with potential changes surrounding a restart in live exports via sea including “gold standard” rules for animal welfare, along with purpose-built ships. 

Public consultation on the possible reinstatement of livestock export by sea is likely to kick off by the end of 2024. 

Meanwhile, Harvey said the topic has historically been divisive in the farming community, so uncertainty prevails in the short term as to whether trade will be reinstated. 

He said the broader policy environment around live exports in Australia, NZ’s main source of competition for live exports prior to the ban, is also far from clear. 

“While there has been no shift in policy on the live exports of dairy cattle, in May 2024 the federal government announced that the export of live sheep by sea from Australia will end on May 1 2028.”  

Should NZ trade of live animal exports be reinstated at some stage in the future, Harvey said, given the slowdown in Chinese demand, Kiwi exporters would likely encounter a markedly slower market. 

Oceania live dairy cattle trade volumes peaked at 233,000 head in 2022, with a combined total of 815,000 dairy cows exported from Australia and NZ between 2018-2023. 

“However, by mid-2024, the flow of dairy heifers from Australia and NZ to China has slowed to barely a trickle due to a combination of NZ’s ban on exports along with a slowdown in Chinese demand, resulting in an annual decline of 83%.”

Unsurprisingly, the drop in trade with China has taken a heavy toll on indicative pricing in the market for live dairy cattle exports. 

Based on RaboResearch analysis of Australian export data, the indicative Australian export FOB price per dairy cow peaked at US$3000 in 2022 but fell to US$1500 per head in 2023. 

“The growth journey of China’s milk supply, a key driver of increased heifer exports, is at a critical juncture.” 

The industry is grappling with an oversupply of raw milk, leading to falling local milk prices and lower farm profitability.

Moving forward, a recovery in Chinese heifer demand is possible, but it will require a combination of improved milk prices, increased farm profitability, and further government policy to support farm expansion and herd rebuilding. 

“Bearish farm sector fundamentals in China, a market that is irreplaceable, point to slower live export trade for the foreseeable future.” 

Southeast Asian markets, including Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines, are a largely milk-deficit region, with self-sufficiency rates ranging from 1% to 50%. Based on RaboResearch modelling, the combined import deficit totalled more than 10 billion litres of liquid milk equivalent in 2023. 

More recently there has been a renewed focus on local herd expansion and milk supply growth, through private and public investment, across some southeast Asian economies to specifically address supply chain and milk price risks. 

This initiative secures a small but steady flow of live dairy heifer exports into the region. 

Reduced demand from China provides a more attractive opportunity for buyers in southeast Asia, which might lead to an increase in trade moving forward.

But as history shows, the southeast Asian region cannot replace China in volume terms, with annual volumes never surpassing 25,000 cows. 

During the recent cycle between 2018-2023, China consistently accounted for over 80% of all heifer export numbers from Australia and NZ.

So, Harvey said, “the hunt may well be on for new and emerging market opportunities”.

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Female directors bring wealth of benefits: study https://www.farmersweekly.co.nz/news/female-directors-bring-wealth-of-benefits-study/ Tue, 10 Sep 2024 23:45:00 +0000 https://www.farmersweekly.co.nz/?p=97465 Lincoln University report says women on boards promote productivity, collaboration and fairness.

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New research says that having women at the board table helps implement effective governance systems, enhances collaboration, inspires organisational dedication and improves fairness in the workplace.

According to a study report by a group of Lincoln University academics, female leaders help increase productivity and are vital for instilling confidence and protecting shareholder interests. 

Bringing greater diversity to corporate boardrooms has been a focus in parts of the world with regulatory reforms on promoting female directorships highlighting new evidence coming out the United Kingdom that female directors positively impact business investment decisions.

The report authored by three Lincoln University academics demonstrates to regulators, policymakers and stakeholders that appointing women to boards helps implement effective governance systems. 

The report, by Dr Sanaullah Farooq, Dr Muhammad Nadeem and Professor Christoper Gan from Te Whare Wānaka o Aoraki Lincoln University, examines the link between boardroom gender diversity and investment inefficiency.

Taking a sample of UK businesses from 2005 to 2018, researchers examined the impact of female directors on the efficiency of capital investments.

“Important discussions take place on boards; diversity brings a range of perspectives and talent that synergises the board, leading to more well-rounded decisions,” Farooq said.

“There needs to be a raised awareness of giving women a fair shot at landing a seat on a board of directors.

“From our findings and others published, female directors encourage better business performance and governance, are less tolerant of poor managerial performance, make better investment decisions and are more transparent in disclosing information. 

“Research suggests that women in management minimise corporate risks and improve corporate social responsibility.”

Following regulatory reforms in the UK to increase female representation on corporate boards, the study found that gender-diverse boards strengthen the financial monitoring of a business, improving decision-making, resulting in less under and over-investment.

Female directors improve the efficiency of capital investments through three channels, board dynamics, stewardship effect and information environment. 

The dynamics of a board improve with female directors’ active participation in activities such as meetings and governance sub-committees where they seek discussion and clarity on the viability and rationality of investments.

“Forging productive relationships within a business sees female directors help align a chief executive officer’s interest with a business and by doing so, helps mitigate inefficient investment decisions.” 

Female directors help create information-rich environments that raise confidence with stakeholders on the availability of profitable investments, resulting in the supply of capital being eased, Farooq said.

The study also found that corporate boards with three or more female directors have a more significant and positive influence on investment decisions because the women have a greater voice at the board table.

“By achieving critical mass, female directors can change boardroom dynamics and encourage policymaking. 

“So, rather than tick-box compliance, aim to have three or more female directors for a more pronounced effect on financial decision-making.”  

The study suggests promoting greater gender representation can be adopted across other countries, including New Zealand, and beyond corporate entities.

Similar findings are expected in non-listed organisations. 

“Decades of studies show women leaders help increase productivity, enhance collaboration and inspire organisational dedication and improve fairness in the workplace. 

“This is why legislation encouraging female representation at board level should be encouraged.” 

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‘Complete surprise’ of big wheat win https://www.farmersweekly.co.nz/people/complete-surprise-of-big-wheat-win/ Tue, 10 Sep 2024 03:00:00 +0000 https://www.farmersweekly.co.nz/?p=97407 First the Blains heard of their Arable Award was when they won it – thanks to an entry by their agent.

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Mid Canterbury farmers were at the fore scooping a sizable yield of the top prizes in this year’s Wheat Grower Awards.

Cream of the crop was the Blain family’s Strathern Farm at Ashton in Mid Canterbury, which grew the best overall wheat crop to take the honour as the United Wheatgrowers (UWG) Grand Champion 2024.

The mixed-arable family farming operation of Peter and Glenys Blain together with their son Stephen and daughter-in-law Mary takes in 300 hectares with the farming system 100% cropping over the summer while incorporating lamb finishing and dairy grazing throughout winter.

To learn they were winners came as a complete surprise.

“We didn’t know we were even entered until we got an email to say we had won, and we better be at the Arable Awards event,” Stephen said. 

The Strathern Farm entry from their Dawsum feed wheat crop entered by their grain and seed agent was judged the best of the crops to win the feed wheat category, going on to win the Grand Champion award.

The judges described the autumn-sown crop sample as an attractive line that hit “all marks” with good protein and high yield.

“It was a good crop grown for seed; it harvested well, we were happy, but to win we when didn’t know we were entered was even better,” Stephen said.

“We didn’t do anything too special with the crop; timing of fungicides and water, keeping it healthy and keeping disease out was obviously enough.

“We have got two different varieties in the ground this season. If I’d known it was going to be a winner I would have put more in, but I haven’t got the ground now.”

Stephen is part of the third generation on Strathern Farms; the farming system has changed under his watch as irrigation pushed conversion from livestock to cropping.

The farm is pivot irrigated with good access to groundwater enabling efficient and reliable water   

“We couldn’t grow the crops that we do without reliable water.”

Peter, Stephen and Mary Blain at Strathern Farm, whose farming system has changed on Stephen’s watch as irrigation pushed conversion from livestock to cropping. Photo: Annette Scott

Looking back to earlier generations, Peter took up the reins from his father Eric who returned from World War 2 and was offered a loan from the State Services to go farming.

“He borrowed money from his uncle to get the £500 deposit; paid £11 an acre for 540 acres [218ha] and started farming with a few sheep and some crop.

“That was in 1947; he went through the wool boom of the ’50s and pretty much that paid off the loan, that was when wool could pay the loan,” Peter said.

At one stage the farm was two-thirds lucerne carrying 2000 breeding ewes and cropping 200 acres.

As irrigation became important and Peter joined his father in farming, the farm was added to with the purchase of a couple of neigbouring blocks of land. The reliability of water enabled more cropping.

Environmental impact has been reduced with a low-till operation these days and pivot irrigation increasing water use efficiency.

“We haven’t ploughed for 12 years,” Peter said.

Future plans focus on further refining farm systems.

“We will keep improving where we can, especially around water efficiency and soil health, keep building good relationships with the companies we deal with to get good contracts and be open to try new things as opportunities come our way,” Stephen said.

Stephen and Mary have two sons, Benji, 4, and Chester, 2.

“We want to be here for the next generation if they want to be here.”

UWG chair Michael Tayler said the awards are about celebrating the industry.

“We tend to fly under the radar, we are a world-class industry with world-class farmers, and we need to celebrate that.

“There was a good strong line-up of entries, the standard was high, and the winners were well deserved.

“It is particularly pleasing to note a good number of the next generation stepping up into the awards, which is really encouraging to see,” Tayler said.     

Wheat Grower Awards category results: 

Feed wheat: Stephen and Peter Blain 1 and Grand Champion; Ross Richards 2, Redmond family 3

Biscuit wheat: Brian and Rachel Leadley 1, Hurst Farm Partnership 2, Philip Gray 3.

Milling wheat: William Thompson 1, Clemens family 2, Jim and Jocelyn Petrie 3.

Premium milling wheat: Geoff Maw 1, Craig Muckle 2, Millisle Farm 3.

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