Pāmu winds up part of food business, told to focus on core farming

(Image: NZME)

Mon, 13 Nov 2023

The country’s state-owned farmer is winding up part of its food operations after being told by its now outgoing minister to focus on its core farming business.Like many farming operations, Landcorp – which trades as Pāmu – came under pressure in its last financial year with declining commodity prices and increasing costs and the effects of Cyclone Gabrielle.While its total revenue declined by $7 million to $290m, revenue from farm operations declined by nearly $30m to $236m.At the same time, underlying operating...

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