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

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news