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

 


Input prices down for sheep and beef farmers


17 June 2014
Media Release

Input prices down for sheep and beef farmers

Prices for inputs used on New Zealand sheep and beef farms decreased 0.6 per cent in the year to March 2014, following no change in the previous year according to the Beef + Lamb New Zealand (B+LNZ) Economic Service Sheep and Beef On-Farm Inflation 2013-2014 Report.

The decrease has been driven by the decline in the cost of fertiliser, interest and fuel, says B+LNZ Economic Service Chief Economist, Andrew Burtt.

Of the 16 categories of inputs, prices for 12 increased and 4 decreased, however the size and weighting of the decreases more than offset the increases.

Prices decreased by 6.1 per cent for fertiliser, lime and seeds; 3.0 per cent for interest; 2.0 per cent for fuel; and 0.1 per cent for weed and pest control. Electricity and repairs, maintenance and vehicles accounted for the largest price increases during the 12 months to March 2014 and were up 4.9 and 2.6 per cent respectively.

Over the most recent five-year period, on-farm inflation was 2.9 per cent, and 36.2 per cent over 10 years. In comparison, consumer prices increased by 10.9 per cent over the last five years, and by 28.5 per cent over the last 10 years.

Excluding interest the underlying rate of on-farm inflation was -0.1 per cent and was down from 0.7 per cent for the previous 12 months. It is only the second decrease in underlying on-farm inflation since this report started in 1972-73.

The sheep and beef on-farm inflation report is compiled by B+LNZ’s Economic Service and indicates the annual changes in farm input prices. On-farm inflation is different to total farm expenditure, which also takes into account the volume of inputs used on farm.

The full report is available on the B+LNZ website http://www.beeflambnz.com/economic-reports/

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news