The Country 09/12/25: Todd Charteris talks to Jamie Mackay

The chief executive of Rabobank comments on the bank’s latest farmer confidence survey, which sees farmer sentiment dipping from near-record highs, with dairy farmers now less confident. 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
He is the chief executive of Rabobank. Quarterly they do
a farmer confidence survey. Now. The latest survey sees a
dip from near record highs and surprise, surprise, dairy farmers
are now less confident. Todd. I know that you spend
a lot of money on these surveys. My friend, I
could have written this one for you.

Speaker 2 (00:20):
Oh, get a Jamie.

Speaker 1 (00:21):
Yeah.

Speaker 2 (00:21):
Look, it's not that surprising, is it. I guess we've
got to keep it in context. Confidence levels have been
extremely high all year and to come back slightly off
that high, there's not that surprise in giving. You know,
there's a lot of milk around global milk supply. You know,
we've seen some softness and GDT options and he unsurprisingly

(00:42):
the confidence has dropped there just a little bit on
the dairy side of things, and what we're talking about
there is confidence in the next twelve months and beyond.
So it's come back a bit, but it's still really
high and I think that's really positive and it's good
to see it maintaining at those high levels.

Speaker 1 (00:58):
Absolutely, sheep and beef are very confident at the moment
and so they should be.

Speaker 2 (01:03):
Yeah, things are looking great. There aren't they and it's
a long way it continued because it's been a pretty
tough road for certainly sheet Meet in the last few years.
So to get some real confidence going in there, it's
just great to see. And we're seeing it in investment
and tensions as well, which I think is really an
important measure because what farmers and business owners are looking

(01:26):
at there is what's the investment and tensions out over
the next twelve months, and it's a longer term view.
So we're seeing that increase and that's really great to
see because that really flows through all those all communities,
that confidence.

Speaker 1 (01:38):
Yeah, the other one you had to look at was
key we fruit here and this isn't surprising either. Zespery's
counter seasonal global supply program that's obviously growing on the
other hemisphere, on the other side of the world, and
the off season is now up and running, and the
latest forecast for twenty five twenty six is tipping record
returns across all fruit groups. And I look at all

(01:59):
the the primary sectors at the moment, Todd, I don't
know what your take on it is. I would have
to say perhaps beef and key we fruit are the
strongest of the lot, even though Lamb's really good at
the moment. But I look at beef and key we
fruit and Trump has taken the tear of so off
both of those, which is going to help.

Speaker 2 (02:17):
IM definitely going to help for sure. No, Look, I
think it's great to see that program up and running
in Zistria. You know, I've done a great job with
their whole program for a number of years now. And
to see that confidence hanging around and to actually look
forward and be really quite optimistic, I think great to see.
And we continue to see quite a bit of an

(02:40):
investment into those sectors, and so you're just really good
to see. And as I said earlier along that continue
because you know, the wider economy of New Zealand needs
that confidence to flow right through, and it's pretty tough
and SIG sectors right now. So the farmers can that
confidence can flow through derby great I think for the

(03:01):
wider news young economy.

Speaker 1 (03:02):
Todd charteris. I won't hold you up because I know
you're a busy man. You're going to make an appearance
late that next week to wrap the farming year from
Rabobank's point of view, and you need to start thinking
about who you're twenty twenty five ag person of the
Year is and it can't be you or me.

Speaker 2 (03:19):
No, definitely won't be what if it won't be me?
But now looking forward to catching up next week Jamie,
And yeah, look forward to a few different perspectives between
now and then. And we'll see you next week.

Speaker 1 (03:30):
Yeah, yeah, we will. And also later this week we've
got our countdown to Christmas. And the Rabobank Prize is
always my favorite one because you're giving it to someone else,
it's better to give them receive. I think we've got
off the top of my head. Someone will correct me
if I'm wrong. Here one thousand dollars of Rabobank cash
to give away to the charity of your choice. So
thank you for supporting that. I think it's a wonderful

(03:51):
thing to do. Letting into Christmas.

Speaker 2 (03:52):
Well, chat next week, Johnny, Jamie, we'll talk to you then.
Thank you.