Farm retailers' profits hit as on-farm inflation bites

(Image: Supplied)

Mon, 04 Dec 2023

Two rural retailers have posted losses as pressure weighs down on their farmer customers’ spending.In their respective financial years to the end of June, Farmlands recorded a loss of nearly $680,000, while Ruralco's net loss after tax came in at $2.1 million. Both retailers operate as co-operatives. While Farmlands has a network of stores throughout the country, Ruralco – which formerly traded as Ashburton Trading Society – operates throughout mid-Canterbury.For much of the 12-month period, on-farm inflation sat...

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