Reserve Bank watching farming sector after drought adds more stress

Tue, 07 May 2013

By Paul McBeth May 8 (BusinessDesk) – The Reserve Bank is “carefully monitoring” an already highly indebted agriculture sector after the recent drought in the North Island is likely to more strain on already stretched balance sheets. The central bank has previously flagged concerns about the high level of indebtedness among farmers and its dairy concentration, and warns the recent drought could “expose financial vulnerabilities” across the sector, according to its six-monthly financial stability report. “Parts of the agriculture sector in...

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