Bankers warn more forced NZ dairy farm sales likely following payout drop

Fiona Rotherham
Thu, 28 Jan 2016

By Fiona Rotherham Jan. 29 (BusinessDesk) - Banks say more heavily indebted New Zealand dairy farmers will be asked to sell up as non-performing loans increase with lower forecast payouts. DairyNZ estimates 85 percent of dairy farmers will lose money this season compared to 49 percent last season after Fonterra Cooperative Group yesterday followed other dairy companies in cutting its forecast farmgate milk payout. The drop of 45 cents per kilogram of milk solids to $4.15/kgMS for the 2015/16 season meant an $800 million drop in the indust...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
Juice magnate Lepionka sues lawyers for 'negligent' advice
Greg Hurrell | Tue, 05 Jul 2022

Businessman Stefan Lepionka's negligence case against Gibson Sheat will be split in two, with the law firm's countersuit to be heard first, the high court has ruled.

Property
George Kerr's Pyne Gould receivership continues
Victoria Young | Tue, 05 Jul 2022

Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.

Opinion
Don’t cut off Māori landowners’ forest options
Te Kapunga Dewes | Tue, 05 Jul 2022

Well-intentioned academic and environmental critics of exotic forest planting are standing in the way of one of the few economic opportunities available for the use of marginal Māori land.

Sponsored
How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges