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Dairy sector to take advantage of technology revolution
Dairy sector well placed to take advantage of technology revolution
Higher dairy payouts have put dairy farmers in a good position to take advantage of new technologies that will redefine farm efficiency in the years ahead, according to ANZ’s Managing Director Commercial & Agri, Mark Hiddleston.
“While diary and other commodity markets remain changeable, a higher payout provides an opportunity for our dairy farming customers to pay down some of the debt they’ve built up, and to reinvest in their businesses,” Mr Hiddleston said.
“We are seeing the next agricultural revolution where technology and innovation will drive improvements in farm productivity, efficiency, while reducing environmental impact.
“National Fieldays, which ANZ is proud to support for the 49th year, will be an unrivalled opportunity for dairy businesses to check out the latest innovation and thinking.”
Research by ANZ rural economist Con Williams into some of the apps and technology aimed at improving the bottom line for agri-businesses shows real growth in tech adoption across the sector.
“There are a whole range of benefits, but essentially it’s about the ease of doing business, being more efficient and productive, making better decisions, mitigating risks, meeting compliance requirements and improving the bottom-line,” Mr Williams said.
Despite a challenging global backdrop he believes the outlook for New Zealand agri-businesses is positive.
“The operating environment looks positive for the key livestock sectors. We are most cautious on beef, with a large supply increase anticipated from the U.S. and Brazil. For dairy, current market indicators suggest a high-$5/kg ms to high-$6/kg ms range for the milk price,” he said.
“The main horticulture sectors had challenging growing and harvesting conditions this year, impacting on the overall quality of crops. That said, decent prices are still expected, supporting overall revenue.”
ANZ’s long-term association with Fieldays reflects the bank’s commitment to the New Zealand agriculture sector.
“We are proud to get behind Fieldays and are committed to being part of the solution that addresses New Zealand’s industry challenges and creates a brighter future for our agri-sector,” Mr Hiddleston said.
ANZ Fielday activities include:
Economic outlook + technology
Con Williams, ANZ’s Agri Economist, will be presenting an economic overview along with some highlights from his current research into technology and apps in the ANZ Lounge at 10:00am Wednesday and 10:30am Thursday and Friday. He’ll also be available in the lounge from 2:00pm to 3:00pm (Wednesday-Thursday) for more informal discussions, as well as the Fieldays’ media briefing on Thursday at9:30am.
The ANZ Specialists Bar
A team of experts from across the bank will be available to talk to farmers to provide business information and support.
Customer Lounge
We’re offering all visitors morning and afternoon tea and a light lunch service (Wednesday-Saturday) downstairs in the ANZ Lounge.
Kōwhai Creamery
Local ANZ customer Kōwhai Creamery will be showcasing their handcrafted real fruit ice cream. Tastings are Wednesday-Friday (11.30am to 1.30pm) in the Courtyard.
ANZ Ambassador Visit
ANZ
Ambassador Eric Murray will be on site for a few hours on
Thursday to meet and chat to Fieldays
visitors.
ANZ Bank New Zealand Limited
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ANZ has been helping New Zealanders get on top of their money ever since we opened for business in 1840. We were New Zealand's first bank and today we have a large network of full-service branches and ATMs, and talented people across the country.
We're passionate about helping our customers make their money work harder and equipping them to make better financial decisions. Whether it's travelling the world, buying a home, building a business, investing for the future or protecting their family's future, we use our financial strength and expertise to help make it happen.
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