Farmer confidence at lowest level in three years

Farmer confidence at lowest level in three years

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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farmer-confidence

[26 September/Stuff NZ]

The latest Rabobank Rural Confidence Survey has revealed that farmer confidence is at its lowest level since the March 2016 quarter, with many citing central Government policy as the reason for concern. Net confidence has dropped to -33 percent and 48 percent of farmers are expecting the rural economy to worsen over the next 12 months. Sixty-eight per cent of farmers with a negative outlook identified government policy, such as freshwater reform and future greenhouse gas obligations, as a primary reason for their concern. Rangitata MP Andrew Falloon reported that Fonterra’s results are also of concern to farmers. Dairy Farmers have had the biggest drop in confidence, whilst Horticulturalists are the most confident in the sector, having 37 percent expecting improved performance over the next 12 months.

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