The Country 18/12/25: Todd Charteris talks to Jamie Mackay

The chief executive of Rabobank wraps the 2025 farming year and names his Ag Person of the Year.

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Episode Transcript

Speaker 1 (00:00):
Here's another great supporter of the country wrapping his farming year.
His name is Todd charteris chief executive of a Rabobank
who bring you the best of the country every Saturday
morning on newstalk ZB between six and seven. Thanks for that, Todd. Hey,
let's just start with the news of today Fonterra dropping
the milk price or the mid point to nine dollars.

(00:21):
No surprise, this milk price could end up starting with
an eight.

Speaker 2 (00:26):
Yeah, Goaton and Jamie, you look at is no surprise
obviously nine consecutive drops and GDT the option and there's
just the world's just a wash with milk at the moment,
and so yeah, look it's I guess it's disappointing, but
it's it's quite realistic. And the good good thing is
it's happening early in the season so people can plan

(00:47):
and do so accordingly. So yeah, look, it's under pressure,
there's no doubt about it. But I think it's the
right signal from frontier to the market.

Speaker 1 (00:54):
Economics one o one supply and demand the other interesting
story and this pertains to you guys who lend money.
Interest rates, those longer term fixed rates are going up.
Can the Reserve Bank governor, the new one I've forgotten
the name, talk them down.

Speaker 2 (01:10):
Yeah, well look, yeah I haven't met her yet. We're
catching up in February, which are good. But yeah, look,
certainly the reserve banks talk talk them down a bit.
But yeah, the market responded to the Reserve Bank announcement
a few weeks ago, and we have seen some sort
of increases on those longer term rates. But let's see
where they settle. I think it's very sensitive to commentary

(01:34):
in the marketplace, so let's just see where they settle.
I do think, you know, OCR is going to stay
down for some time, so to see where those wholesale
rates end up as we.

Speaker 1 (01:43):
Review the farming yet twenty twenty five. Really encouraging were
those soaping numbers that came out the Situation and Outlook
report for primary industries. You know, it's worth what sixty
two billion for the year ended thirtieth of June twenty
twenty six, heading up the sixty three billion. It's absolutely
brilliant of the sector. Food and fiber now accounts for

(02:06):
eighty three percent of all in Z goods exports.

Speaker 2 (02:10):
Yeah, it's outstanding, isn't it? And something that I think
everyone associated with the primary sector should be proud of,
right from the farm gate right through to everyone who's involved.
So you look at absolutely outstanding and just great to
see and you know, really underpinning that confidence that we
see coming through and now goodly confidence surveys and long

(02:30):
may that continue? I mean notwithstanding obviously we're just spoken
about the dairy price, but look other commodity outlooks look
outstanding and so as I say, long may that continue?

Speaker 1 (02:42):
Well, key, we fruit and beef. Trump's taken the tariffs
of those. There's a couple obviously we can throw on
another red meat and lamb. Have I've had stunning years?

Speaker 2 (02:51):
Oh absolutely, And it's great to see. And you know
it's you know, because it hasn't It hasn't always been
plain sailing and certainly and cheat meat. So so you know,
if we can get a few good years and you
know people farms will reinvest and continue to invest in
what they do. And I think that's great and we

(03:12):
see that as the same as confidence results.

Speaker 1 (03:15):
Okay, Todd charteris chief executive of Rabobank. Who is your
twenty twenty five AGG Person of the Year.

Speaker 2 (03:21):
Oh look, look, you know it's obviously been a top year.
We just spoke about that. There's a lot of competition,
for sure. I do want to mention a couple of names.
I do want to give an honorable mention to the
Agri Business Director Kerry Allen, who I thought really stepped
up when the Education Ministry suggested that agribusiness should be
dropped from the school curriculum. So well down to Kerry.

(03:43):
I thought it was excellent leadership there, and we're a
big supporter of agribusiness from schools. But for me, I've
actually thought about it more as a team, and it's
to all those people for the Ministry of Primary Industries
who work hard every day to protect our borders and
buy security systems are just so important for our farmers
and growers. So you know, well done to Raysmith who's

(04:04):
the director general there. I really enjoyed working with Ray.
I think he leads that team brilliantly. So I call
out Raysmith and the whole team at NPI.

Speaker 1 (04:13):
Todd charteris wrapping the farming year that was. Thanks for
your support. Thanks for the support of everyone at Rabobank,
especially David Johnson who does the hard yards in the
back office. You have a good break. I'll catch you
back next year.

Speaker 2 (04:25):
Hey, thanks Jamie, thanks for all that you do in
the whole team of the country. Excellent work and just
finding a massive shout out to all of our farmers
and grows out there, and we're also proud of you.
Keep up with good work and have a good break.