Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Loan package to grow pasture productivity

ANZ Bank New Zealand Ltd

Media Release

For Release: 24 February 2014

Loan package to grow pasture productivity

New Zealand’s largest rural lender today launched a lending package for farmers wanting toboost farm productivity by improving pasture and forage growth.

ANZ Bank’s Pasture Productivity Loan offers an interest rate of 4%* p.a with a maximumloan amount of $100,000. The maximum loan term is five years, principal reducing, andthere are no establishment fees.

“Renewing pasture and forage is one of the key things red meat farmers can do to improveproductivity and profit,” said Graham Turley, ANZ Managing Director Commercial & Agri.

“Increasing the quality and volume of feed grown can enable farmers to breed and finishmore stock, improve climatic resilience and generate a greater return than the cost ofcapital.

“ANZ’s recent Privately Owned Business Barometer survey showed that more than 60% ofred meat farmers aimed to increase production next year – and more than 80% of thoseplanning to do so through renewing pasture and forage species.

“This loan will help ease the financial barriers to farmers investing in pasture, therebyincreasing productivity and taking advantage of the enormous opportunities for New Zealandfarmers from growing global demand for New Zealand red meat. The farmers taking part willhave the advice and a plan to capture the return from the investments they are making.”A report by ANZ found that New Zealand has the potential to capture $1.3 trillion more inagricultural exports between now and 2050 if targeted actions are taken - and the red meatsector is set to play a major part in realising this potential.

This initiative sits alongside ANZ participation in the Red Meat Profit Partnership – agovernment and industry programme to deliver sustainable, long-term profits for NewZealand’s red meat sector. ANZ will contribute significantly to the seven-year programme, inaddition to its other activities supporting the farming sector.

The Pasture Productivity Loan is the latest lending initiative by ANZ to boost farminvestment, drive production growth and support farm turnover.

Already in the market is ANZ’s Farm Development Package, which includes a low-interestloan for fulfilling compliance on effluent management, water quality management and waterand energy conservation.

* Rate current at 24 February 2014. Interest rates are subject to change.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news