Sheep and beef farmers are experiencing record on-farm inflation levels for the second year in a row.
Beef + Lamb NZ's report Sheep and Beef On-farm Inflation 2022-23 shows on-farm inflation is at 16.3 percent, a 40-year high.
In March, Beef + Lamb NZ forecasted a 30 percent decrease in average farm profit based on estimated on-farm inflation of 12–13 percent.
The Country's Jamie Mackay says this is crippling for farmers, as this higher-than-expected figure will lead to profits decreasing further.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.