Thursday, August 25, 2016

Fonterra has indicated it will increase its 2016/2017 farmgate milk price.

The rise of 50c to $4.75 per kilogram of milk solids is seen as a positive signal for farmers.

Federated Farmers dairy industry spokesperson Andrew Hoggard says the announcement will likely boost dairy farmer optimism, and make their bank managers 'more cheerful'.

Wednesday, August 24, 2016

The price of petrol is heading up, once again.

The price per litre has increased 11c in just under a fortnight, to $1.88 for 91 octane.

The rises have been attributed to the increasing cost of refining crude over the same period.

Industry watchdogs are expecting the price to remain at the present level in the short term.

A barrel of petrol is now costing more than $NZ82.

Wednesday, August 24, 2016

Beef and lamb exports to key markets have fallen.

Statistics New Zealand figures show total exports were worth $4b in July.

That's down 19% on the same month last year.

The largest decrease was in lamb exports, which are down 29%.

The drop has been attributed to record meat exports at this time last year, when they were 31% higher than the average over the previous five years.

The United States and the EU are the largest export destinations for beef and lamb.

Tuesday, August 23, 2016

New figures show the number of people coming to New Zealand is increasing.

Statistics New Zealand says more than 20,000 extra visitors spent time in the country during July, compared with the same month last year.

The rise was due mainly to a 21% increase in holiday arrivals, from Australia, China and the United States.

As well, visitor arrivals numbered 237,900 last month, setting a new July record.

Tuesday, August 16, 2016

Businesses with large electricity bills now have an option to contract their supply thanks to Dunedin company, Energy Link.

The Energy Exchange is based on mathematical algorithms, capable of processing and analysing offers from thousands of sites on a single contract.

Having all electricity retailer information available in one on-line platform is the first of its kind in New Zealand.

Friday, August 12, 2016

Silver Fern Farms shareholders have voted to merge with Chinese company Shanghai Maling.

The vote was held after a lengthy meeting at the company's Otago headquarters.

And despite much heated debate, just over 80% of shareholders were in favour of the merger.

Tuesday, August 9, 2016

A Dunedin tertiary institution has contributed hundreds of millions of dollars to the Otago economy.

Figures from the latest Otago Polytechnic Economic Impact Report show it's contributed $255M to the region.

Its global economic impact for 2015 was valued at nearly $290M.

Chief executive Phil Ker says the report illustrates the institute's significance to Otago, having a direct influence on local economic development.

Friday, August 5, 2016

New Zealand wool prices were mixed at the latest South Island auction, with buyers focused on specific wool types.

Prices for mid-micron wool increased an average of 1% compared with last week's South Island auction, with 27 micron wool rising to 20c a kilogram.

75% of the almost 5000 bales on offer were sold at auction.

However that’s down from 85% last week, which was the highest clearance rate since the end of May.

Thursday, August 4, 2016

Fertiliser company Ravensdown will pay farmers a total rebate this year of $41 per tonne, after posting an almost 35% rise in profit.

It's announced a profit before tax and rebate figure of $62m for the year, up $22m on last year.

Chairman John Henderson says the result stems from year-on-year progress on a variety of fronts, including leading price reductions during the year and capping superphosphate prices.

Wednesday, August 3, 2016

Vehicle sales in New Zealand are on the up, following a series of monthly gains.

Registrations of new vehicles rose 12% to just over 11,000 units in July.

The New Zealand Motor Industry Association is signalling a new annual record may be set this year due to an economy buoyed by low interest rates and record migration.

Chief executive David Crawford says the association expects annual sales to soften in line with slower growth in the domestic economy.

Tuesday, August 2, 2016

The Otago Community Trust has handed out close to $170,000 in its latest funding round.

That amount includes two sizeable donations of around $20,000 to both the Otago Rowing Club and the Milton Community Health Trust.

The organisation has also thrown monetary support behind a range of arts-based organisations and events, including Artsenta and next month's Polyfest.

Musical Theatre Dunedin and the New Zealand Choral Federation are also benefiting, each receiving around $7000.

Monday, August 1, 2016

The Dunedin City Council has given out more than half a million dollars in it's latest city project funding round.

Lifesaving New Zealand and the Dunedin Symphony Orchestra are 2 of the big winners, both receiving more than $100,000 each.

The Fortune Theatre also fared well, netting $95,000 from the contestable grants pool.

The council's latest annual plan has seen the amount of money made available rise by around $60,000 on last year.

37 applications were received from organisations in this latest round with 27 of those selected.

Friday, July 29, 2016

Annual building consents nationally are at their highest in over a decade.

Statistics New Zealand figures reveal that in the year to June, over 29,000 new dwellings gained consent.

June saw a large increase, with over 2,700 consents granted, up 35% for the same month last year.

Much of the growth came from Auckland.

Thursday, July 28, 2016

The latest monthly Regional Tourism Estimates show a strong start to the winter season with increased expenditure in every region.

Otago led the way with $3.2b in spending by both domestic and international visitors.

That's an 11% increase on June last year.

In total six regions saw expenditure of over $1b, something Associate Tourism Minister Paula Bennett attributes to hard work at both national and local levels.

She says the government remains focused on the dispersal of visitors across New Zealand to make sure all regions benefit from tourism spend.

Wednesday, July 27, 2016

The confidence of the country's farmers is slightly up on last year but remains weak.

The latest Farm Confidence Survey shows that around 70% of respondents expect their profitability to stay the same or improve over the next year.

However, Federated Farmers president William Rolleston says many farmers have concerns about the global market post Brexit, and its impact locally.

He says it's unsurprising almost 40% of respondents identified farm-gate prices as their biggest single concern.

Other areas of concern highlighted included regulation and compliance costs, health and safety requirements and resource management issues.