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

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news