March 17, 2026 • 38 mins
Jamie Mackay talks to Todd McClay, Mike McIntyre, Todd Charteris, Eric Gorlier, and Hunter McGregor.
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Speaker 1 (00:00):
Catch you're the latest from the land. It's the Country
Podcast with Jamie McKay thanks to Farmlands with feed for
every animal from chukes to dogs.
Speaker 2 (00:13):
It's if you feeling you need a little bit of
met me at the perfect time.
Speaker 1 (00:20):
You love me.
Speaker 2 (00:22):
I low, I got you start.
Speaker 3 (00:34):
I need you come.
Speaker 4 (00:37):
Me Good a New Zealand. Good afternoon. This is the Country.
I'm Jamie McKay with Dua Lipa and Todd McClay, the
Minister of Agriculture and Trade, Mike McIntyre from Jardin another
good well, a positive dairy trade auction overnight. That's six
in a row to kick off twenty twenty six, after
nine drops in a row for the end of twenty
(00:59):
twenty five. Todd charteris at a rabobank the Latest, The
Latest with the Farmer Confidence Survey. A guy by the
name of Eric Gollier looking forward to catching up with him.
Nessley's Swiss Bace, Head of Procurement, Commodities and Sustainability. What
does all that mean? We'll ask Eric a wee bit
later in the show. And our guy in Shina his
(01:20):
name is Hunter McGregor. Let's kick off the show though
with the Minister of agriculture and trade. Now, Todd maclay,
with what's happening in the Middle East at the moment,
it makes the free trade agreement agreement with India even
more important and strategic.
Speaker 5 (01:37):
Good afternoon, Jamie, good afternoon. You are absolutely right. Our
free trade agreements, from the new one with India, to
China to the European Unity of uk TCPT be, all
of them is actually what's going to help us get
through this current challenge in the crisis. And exactly, India's
(01:57):
one point four billion people and they want to buy.
Speaker 6 (02:00):
From New Zealand.
Speaker 5 (02:01):
We're going to work very hard to get that sign
and in place before the election.
Speaker 4 (02:06):
Unfortunately, when the Good Lord made this planet, Todd, he
plunked all a lot of the oil in one place.
It's very hard to get in and out of, and
it's very much concentrated, and the world is so dependent
and we're not very resilient here in New Zealand when
you think about it, we don't even have an oil refinery.
Speaker 5 (02:24):
Now, no, that's right, we're not as resilient as we were,
although of course if we go out to Taranaki there
is oil and gas there. It's been helping us so
many years. You know, the last government decided we didn't
need to explore for gas anymore, and that's part of
the reason we've seen the energy costs go up so much.
But you are right, we are dependent upon oil. We're
seeing a price of fuel at the pump go up.
(02:46):
We have a ministerial group pulled together. We meet very
early every morning to be updated on exactly what's happening
across the economy, including with fuel stocks, and I think
later on today you'll see us release of our latest figures.
We are in a good place, but we are not
sitting here hoping. Hope is not a strategy. We're engaging
with business and industry and the fuel companies to make
(03:06):
sure that you know, in whatever happens to New Zealand
can be at the front of the queue.
Speaker 4 (03:10):
Well, we've talked about being resilient with mothboard Maston point.
Goodness knows whether we can reignite that. I don't know
about that one, but Caperni the urea plant balance, Sagra nutrients.
We talked to Calvin Wickham on yesterday's show about this.
This is surely a reminder that we need some resilience
on the fertilizer front in terms of creating our own product.
Speaker 5 (03:34):
Yeah, that is right. We have enough fertilizers in New
Zealand to get us through the autumn. I actually had
a very long zoom meeting this morning with about forty
or fifty companies. Those that are export are from the
primary sector, and those are import also to support supply
the primary sector. The third companies were on there. They
are in a good place, although they are saying that
(03:54):
you know, in the months to come, if this war
goes on longer than anybody would want, then ultimately some
of those that they buy the ingredients for the fertilizer from,
well you know, it'll be challenging. They are looking at
other markets and other places to get it. Then, at
the moment, we're focusing on the here and now, what
it looks like this week and for the next three
(04:15):
or four months. But I think you're right, Jamie, there
will be a conversation to be had about resilience. Energy
security is a word that actually we in national views
for a long time, and we need to keep talking
about that as well as all the other things that
keeps our economy going. If we don't have fertilizer we
don't get to produce the food that the world needs.
But we're working very, very hard to make sure that
(04:37):
after the autumn we all have the supplies we need
for our farmers.
Speaker 4 (04:41):
And I know you're getting these daily updates. As you said,
how much of our trade is currently stored sitting on
a boat somewhere going nowhere.
Speaker 5 (04:49):
So into the Middle East, we have about three billion
dollars worth of exports a year. Some of the ports
are opening and closing, and so if you mentioned the
GDP dairy option overnight, quite a bit I understand was
purchased from that part of the world, the Middle East,
So they will only be doing that because they believe
that they can get the dairy that they need into
(05:10):
those markets. But for the rest of the world, the
other you know, the remaining seventy eight billion dollars worth
of exports. Those markets are open, there will be delays
in some cases for shipping, and we're looking at that
to make sure the ships get down to New Zealand
full in both directions. And then at the same time,
I think we are going to see prices increase for
(05:33):
freight and shipping. But as far as the Middle East
is concerned, the majority of the ports have been closed,
but they are working I know, very quickly there to
get them open again. And you know, I have a
call actually this evening with my counterpart of the UAE
where I'll hear directly from him about their plans and
what they're doing.
Speaker 4 (05:49):
What are the alternative trade routes or transport mechanisms other
than by sea. Obviously we can get stuff in buy air,
but it's very very expensive.
Speaker 5 (06:00):
Defensive Emirates are flying again out of Good Guy down
to New Zealand. That made a few changes to the
number of flights, so I know they're looking at whether
they bring another plane in for freight. So they themselves
in the region will want our goods as much as
we want to sell them to them, and they'll be
working through that as well. You think about Singapore, we
have negotiated agreements with them about ensuring that shipping remains
(06:22):
open and continues down to New Zealand, as well as
the supply of essential goods. That agreement is not enforced yet,
but we've had conversations with the Singapore government and both
governments are saying we should honor the conditions of that agreement,
even though it hasn't been signed yet and so Jamie.
In as far as our access to the European Union
and the UK markets, this is different there with those
(06:45):
Hotey rebels a while ago where they were out attacking
the ships. This is predominantly only affected in the golfer
and so it's access to those markets directly fuel and
fertilizer out and for some of those sports our products.
But the countries themselves who are not directly involved in
the war, although are affected by it, working around the
clock to make sure that both goods and services can
(07:07):
get them from the outside world.
Speaker 4 (07:08):
And the final question for you, Todd McLay, what's your
old mate Winston Peter's doing slamming Miles Hurr or we
should be as a nation patting Miles Hurrl on the back.
Speaker 5 (07:18):
Well, Miles has done a great job. He called me
the other night to tell me that he was the
Knights and I think his retirement and I thanked him
on behalf of not only our farmers, our dairy farmers,
but the wider New Zealand for the significant contribution he's made.
Think about when he started all twenty five years ago
or so, and then the last eight years of the
CEO what Fonterra was like then compared to now, and
(07:40):
he has been able to focus it and sharpen it
and it does nothing but deliver for our farmers and
it has their best interest at heart in everything that
they do. So put the politics aside. Miles. Thanks to
what you've done. You deserve a break, but a very
short one, and there'll be many other companies. Then I
would like you to do the same job, irrespective of
some of what some of my cabinet colleagues might think.
Speaker 4 (08:02):
And I've got the cantankerous old bugger on the show tomorrow.
Wish me luck.
Speaker 5 (08:06):
Todd well, if he wasn't like that, you wouldn't like him.
Speaker 4 (08:08):
So he's good for ratings yet ye he's good on you.
There we go Todd McClay, Minister of Agriculture and Trade
and his father Roger. He is a very good friend
of Winston's back in the day. See Winston spans several generations,
or at least two generations of politicians. It is fifteen
after twelve year with the country. We alluded to it
(08:31):
with Todd McLay, the GDT auction overnight. This is six
in a row, all be it only up zero point
one percent, but skim milk powder seems to be the
new white gold. We'll talk about that with Mike McIntyre
after the break. Welcome back to the country. I don't
(09:08):
know what happened to jessej then she went missing on me,
but I've got her and I've also got from Jardin,
head of Derivatives dairy analyst. I was going to say,
Miles Hurral, that's a fraudy and slip. Let's try Mike McIntyre. Mike,
we might start with Miles. Do you think Winston's being
a bit uncharitable sort of slamming him for taking the
(09:30):
money and running.
Speaker 7 (09:31):
Oh well yeah, just for slamming in the first place.
I think he's done a fantastic job. So but no surprise,
I own guess and even this is an opportunity, does
he so part of the course.
Speaker 4 (09:41):
Yeah, we wish Miles hurrall all the best. I'm still
hearing rumors, mind you, I got it wrong with poor
old yolo Wayne Langford. He's on the show a bit
later in the week about standing in West Coast Tasman.
Although I do know there will be some interesting candidates there.
I'm here Miles may still be interested in New Zealand rugby.
(10:03):
That's out of the frying pan into the fire.
Speaker 7 (10:06):
It certainly would be. It wouldn't be without its challenges.
But you know, if anyone's good for the job, it's
perhaps some.
Speaker 4 (10:11):
I think he'd be great. You're good for New Zealand rugby.
Between him and David Kirk, they would tidy it up.
A couple of smart business people right here. Let's have
a look at that global dairy trade auction overnight made
it six in a row, only up zero point one percent.
Whole milk powder down four percent. What's with skim milk powder?
We can't get enough of it.
Speaker 7 (10:31):
That's right, and I think that's actually quite favorable for
the outcome for the rest of the season as well,
because if you have a look at the combination of
skim and butter, or even skim and amy, if they
both outperform homework powder returns quite substantially. So to see
skim hold its own, especially at this time of the
year where the big Northern Hemisphere sellers come online, you
know it's good for New Zealand dairy.
Speaker 4 (10:52):
I think all this is happening amidst a backdrop of
this economic and trade term oil almost around the world,
and an excuse me, and a bit of a glut
certainly a good supply of dairy products. So you know,
we're effectively with these prices swimming against the tide.
Speaker 7 (11:15):
We are, but the world has changed in terms of
you know, what everyone's producing. So in the States, you know,
in the last couple of years, I've introduced another nine
billion in processing assets to really capture that protein theme.
So in the States now in snacking bars and convenience foods,
everything's got added protein. The fascination with protein hasn't been
missed by the dairy industry over there. So rather processing
(11:37):
milk and to skimmel powder, which is basically the core
ingredient or the base ingredient, you know, they're finding higher
returns for the milk, and as such we've seen a
constraint in terms of the amount of skin they're able
to send into the market. And I think new zeone's
really benefit from that. You know, really good run last
night obviously prices well up and certainly introduced that premium
again over European product. But you know, we're trading in
(12:00):
a discount to US skim price, which is something that
which is typically doesn't happen.
Speaker 4 (12:05):
Yeah, we're trading at it because you threw the numbers
at me. Is that I acquoted them to hear the
dupless l we're trading it quite a discount to the
Chicago Mercantile whatever it's called.
Speaker 7 (12:15):
The CME Chicago Mercantile Exchange.
Speaker 4 (12:17):
Yeah, I nearly got it.
Speaker 7 (12:19):
Yeah, No, you were there essentially a dollar at your pound.
It was this morning on their on their daily auction,
which translates into close to four thousand dollars a ton.
And as you said, you know, we're about five three
five I think, and probably a little surprising. You know,
skimerl powder's trading only a small discount to homeletpowder, And
essentially then for you're not valuing the true amount of
(12:41):
the fat return. So you'd rather put money the fad
into home sorry, into amf and butter and get a
better return in process the milk and to hold powder
the summer year.
Speaker 4 (12:50):
When we must be getting close to a stage in
the season, Mike McIntyre where effectively we've locked down this
season's payout. When when do we kind of get past
the peg and the sand on that.
Speaker 7 (13:03):
One, Well, certainly by the end of next month. So
certainly by the end of April you've got a pretty
good idea in terms of what it's going to be.
But as you say, we're getting pretty close to knowing
what it is. I think the low end of fon
Teran's current guidance at nine to twenties probably in the
revision mirror now, you know. I think probably nine fifties
looking like more like a minimum, and certainly the futures
are saying that to us. But yeah, give us another
(13:26):
few weeks, we're a couple more GDT events and we'll
have a pretty good idea on the number. I think.
Speaker 4 (13:30):
So, where are the futures sitting at for twenty six,
twenty seven, twenty.
Speaker 7 (13:35):
Six to twenty seven seasons last at nine sixty three,
I think probably they we can have touched this morning,
just in terms of the dependence on Homwark powder for
that price. And obviously that was a disappointing result, mainly
again on the result result of China not toot up
to the auction. Typically they buy well over half of
the homwaltpowder scam and butter, and they were well down
on both homwartpowder and butter and only five and a
(13:57):
half percent of the SCEM, so that's probably the one
can sin I take out of that option, just the
stepping back of their demand which has obviously been cheated
the success the new Yellan season.
Speaker 4 (14:06):
Otherwise, have you got are you keen to wage or
has it a guess as to who the next chief
executive Fonterra might be if it was an internal appointment.
Speaker 7 (14:19):
I'm not up to speed on who.
Speaker 4 (14:21):
The king you're into the futures markets. Surely you can
give us.
Speaker 7 (14:24):
Something well othor my own head in the name and
name of the hat. Sorry, you know it'll be worth
a look on the other side of the court.
Speaker 4 (14:32):
Yeah, yeah, well six million bucks, why wouldn't you? Okay,
Mike McIntyre out of Jardin, thanks the time. I'm always
appreciate it.
Speaker 7 (14:39):
Thanks for rushmming.
Speaker 4 (14:40):
There we go. This is price tag. There's a good
price tag goes with Miles Hurrell's job. But he's earned it.
He's absolutely earned it. Okay, Right, let's take a break
on the other side of it. The farmer confidence survey
was released this morning. We're going to chat to Rabobanks
chief chief executive about that and what's going to happen
(15:02):
to your interest rates. We might ask him before the
end of the hour. He's in the country to visit Fonterra,
Open Country, Dairy and Sinlay. He's with Sinlay at the moment.
Eric Gollier and Hunter McGregor's agi in Shanghai, all on
the country. Before the end of the hour, Michelle's got
rural news and we'll have a look at sports news
see if Miles Hurrell has been named chief executive of
(15:26):
nz ARE. Following a dip in the final quarter of
twenty twenty five, farmer confidence has reversed course an inch hire,
(15:51):
so says the first Rabobank Rural Confidence Survey for the
Air To tell us more about it, Chief Executive Todd
Charteris and Todd it's dairy and the rebound and dairy
that's driving this farmer confidence higher, albeit only slightly.
Speaker 6 (16:09):
Yeahamian, Yeah, Look, it's great to see and off the
back of a long period of positive positivity across all sectors,
it's good to see. Yeah, dairy bounce back up on
the back of I think it's six GEDT options now
positive options and so it's good to see and not
the standing favor of uncertainty out there at the moment,
but their confidence levels are still high.
Speaker 4 (16:31):
Yeah, GDT up zero point one percent. Skim milk powder
seems to be going a great gun, so we'll take
that in these uncertain times. So the dairy farmers are confident,
as you say, six in a row following nine falls
in a row to wind out twenty twenty five, So
no surprise there. What about the sheep and beef peat guys.
Speaker 6 (16:52):
Yeah, look, but it's still positive territory there. It's come
back slightly but very high in that last quarter of
twenty five, So there's still a lot of positivity out there.
We're seeing it in red meat prices and you know,
I know you've spoken about it.
Speaker 3 (17:07):
You know, the wall.
Speaker 6 (17:08):
Improvement has been well received as well. So yeah, overall,
you know, still very positive and long may that continue.
It's you know, we need a few good years for
those sectors who have been pretty badly impacted in the past.
Speaker 4 (17:23):
We talked about six in a row for the global
dairy trade auction positive while sentiment remains elevated at net
positive levels for the seventh consecutive Rabobank Rural Confidence survey,
so that paints the primary sector in a really positive light.
Speaker 6 (17:40):
Yeah, and we need it, don't we. I mean it's
really driving the overall economy in New Zealand, and that's
really positive because we need some positive signs out there,
you know, and we're seeing it in investment and tensions.
You know, we are seeing reinvestments back into businesses big time.
You know, when I'm out talking to farmers and growers,
(18:03):
you know, some deferred maintenance, but you know they're reinvesting
back into the properties is property markets. There's a bit
of a bit of movement in that as well. So
I think it's all good signs. And obviously we've got
the you know, the Fonterier dividend payment next month too,
which I think will really underpin that optimism going forward.
What about the horticulturalists, Yeah, they've improved a bit, which
(18:27):
is good to see. I would say, without diving into
the detail, I would expect to be driven by Kiwi fruit.
I was in the bar plenty this week and things
are underway, certainly big time over there. We went through
a packhouse and Mountain, caught up with one of the
growers and things are looking very good in that sector
and I would expect that driving some of that in
(18:49):
the horticultural space.
Speaker 4 (18:51):
We live in a troubled world at the moment, a
very troubled world. At the moment. Interest rates are going
to go up. What are your economists at rabobanks saying
regarding timing and how much?
Speaker 6 (19:03):
Oh, look, I mean the market has definitely moved. I mean,
you know, what we're seeing is certainly inflationary. We're seeing
input prices go up and you know, farm and that's
the biggest concern for our farmers out there is if
anything's driving some of the negativity, it's just the uncertainty
around input costs. So we're seeing it fertilizer and fuel.
(19:26):
But they are inflationary, so there's going to be pressure
on interest rates. We saw the rb A move yesterday
in Australia, but you know, wholesale market rates have been
edging higher and yeah, that's just a reflection really of
those plationary pressure.
Speaker 4 (19:42):
I want to give you a pat on the back,
you and the team at Rabobank for your Rabobank Good
Deeds competition and it's tenth year Todd Charterress. To celebrate,
you're giving away one hundred thousand dollars ten prices of
ten grand h to upgrade ten rural community hubs across
New Zealand. I joke that the Riversdale Rugby Club is
(20:03):
one of them, todd so that only leaves nine. But
people have till the end of the month to apply
for this. Where are you finding one hundred grand down
the back of the sofa?
Speaker 6 (20:14):
Now, look, we're really proud of this. This comes out
of our Ravo Community Fund that we set aside each year,
really guided by our Client Council. So yeah, we got
some amount away last year, actually Jamie, smaller amounts, so
we want to make bigger impact this year. You know,
I know there'll be a lot of interest, which is great.
(20:35):
Encourage you to get your Riversdale Rugby Club entry in.
It'll go with everything else into consideration. And yeah, I'm pleased.
I'm not one of the judges, but we would expect
well several hundred entries we got last year, so you
get them in by the end of the month. And
we look forward to continuing to support rural New Zealand.
It's a huge part of what we do, huge part
(20:58):
of New Zealand society. So looking forward to playing your
partner that regard.
Speaker 4 (21:02):
YEP and if you want to enter, and as Todd said,
entries closed at the end of the month March thirty.
First text good to our text line number five doub
nine and we'll send you the link to enter. Todd
charteris from Rabobank. Thanks for your time and ask your
mate and Queenstown Jeffrey Morrison, one of your Rabobank executive,
how he got on at the eighteenth at Millbrook last weekend.
(21:24):
I'll see you later.
Speaker 6 (21:25):
Hey, good on you, Jomie. I'll do that catch up,
so thanks.
Speaker 4 (21:29):
Make sure you do. Thank you. Todd has something to
do with reptiles and snakes. I think hello Jeffrey, if
you're listening, Ah, took a great load off my shoulders
when you took the snake off me. Fun times in
Central Otago last weekend. Right up next, Michelle what with
the latest and rural News, will have sports news for
(21:49):
you as well before the end of the hour. Is
in the country from Nesle, Swiss based. He's the Swiss
based head of Procurement, Commodities and Sustainability who's calling all
the shots. Company's night. Like Nesle, we will ask them
and a Hunter McGregor's agi in Shanghai Welcome back to
(22:18):
the country, brought to you by Farmlands and I Suzu
very shortly the latest and rural news and sports news.
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Speaker 1 (23:20):
Six sit down the country's rural news with Cub. Cadet
it's one thing to talk innovation another to back it
up drive it we dare you visit steel for dot
co Dot nz for your local star.
Speaker 4 (23:33):
Guest oh almost came over the top Of john mcavinnie's
line of sorry about that, One, JOHN i was thinking
About Michelle's Rural news and more importantly her. Greyhound who's
her new? Greyhound which is your and your Husband richard's new,
baby and you wanted to bring it to. Work that
caused some, debate in consternation in the studio, Yesterday, michelle
(23:55):
it did.
Speaker 8 (23:55):
Feelix you Know karen takes his greyhound into.
Speaker 4 (23:58):
Parliament, Karen, Yeah karen.
Speaker 8 (24:01):
Mcinnaughty he's got. ONE i think it's Called. Daisy, yeah
so what so he takes us into. Parliament if parliament's
good enough for the, GREYHOUND i feel in it in,
Me dunedin's good enough for.
Speaker 3 (24:12):
One.
Speaker 8 (24:12):
Felix, felix what's fit in quite?
Speaker 9 (24:14):
Well?
Speaker 4 (24:14):
Yeah, look but this is like work from. Home leave
your pet at, home come and do an honest days.
Toll admittedly you do that and then go home and
pat your.
Speaker 8 (24:22):
DOG i need an emotional support dog after working with
the all, Day.
Speaker 4 (24:25):
Jamie that's what it's. About go home and the. Dog
what do you got In Rural?
Speaker 8 (24:29):
NEWS a new national award recognizing the contribution of women
To New zealand's rural communities has been, launched with nominations now.
Open The Rural woman of The Year award has been
established by A Federated farmers And Rural Woman New, zealand
with the winner to be announced at The Primary Industry
awards In auckland On june twenty. Third, now nominations for these,
AWARDS i think close on the first Of, April so
(24:51):
hits the. Website if you know anyone that's Deserving Jamie hunt, hint, yeah.
Speaker 4 (24:54):
Okay and what about if you want to nominate The
Rural man of The, year how do you do? That
you don't need an, Award you've got an. Stuff, no, no,
no, no not. Me i'm just, saying obviously we need A
Rural man of The year as, well don't.
Speaker 8 (25:05):
WE i knew you were going to ask about. That
you need to Ask feeds about.
Speaker 4 (25:07):
That on FIRE i will Ask. Feeds i'll Ask wayne
and Ask wayne what he's doing for the next. Year
his sport.
Speaker 1 (25:14):
Sports on the country WITH afco one hundred. Percent we
owned and trusted. It that's.
Speaker 6 (25:19):
Rare.
Speaker 4 (25:20):
Okay let, me, yes my clock is counting my clock is.
Counting host Nation morocco has belatedly gifted The African cup
Of nations football. Crown the one nil extra time win
By senegal in the final has been overturned Because senegal
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(25:43):
Forfeit that wasn't their. Wise this choice. Was it's like
bringing a greyhound to. Work MOANA pacifica Halfback Augustine pullu
has been suspended for three matches for bringing a greyhound
no for swing for a swinging arm tackle And Super
rugby's going to go, On, Hey i'm like A i
was going to say a dog with a. Bone i'm
(26:03):
like a greyhound with the. Bone i'm like a greyhound
with the. Bone, anyhow up next we're going to get.
SERIOUS i might have to Ask eric the hard. Question,
well this is this is the bloke From nesle are
they calling the? Shots is zero? Carbon so twenty twenty
five going to Ask eric? Next Eric Gollier hunter McGregor's
In china And i'm going to chat to him before
(26:25):
the end of the. Hour here is an interesting character
who is visiting the. Country at the moment we find
him at the Sin lay, offices but he's also going
(26:46):
to be catching up With monterra And Open Country. Derry
his name Is Eric. Golia he Is nessley's head Of,
Procurement commodities And, Sustainability swiss Based, eric first time In New.
Zealand what do you make of our?
Speaker 3 (27:02):
Country, Yes, jimmy first, time first time In New, Zealand.
India very excited with the agenda is that you just put.
Together that's a country that he is extremely important to
us AT neslei because he plays a unique role both
locally on. Globally so a very heavy agenda foods of
(27:24):
visias with our partners there this.
Speaker 4 (27:26):
Week nesla is the world's largest food and beverage. Company
it is present in one hundred and eighty five countries
around the. World So, eric what are you looking for
from These New zealand dairy companies that are supplying You
because we're hearing all about getting to zero carbon milk
by twenty fifty and all this sort of. Stuff is
(27:47):
that realistic these? Days?
Speaker 3 (27:51):
Yeah thank You jimmy for the. Question New Zealand farmers
the produce was one of the world's highest quality milk
thanks to their deep, expertise they've got very strong farming
capabilities and that quadity allows us to make products that
OUR qiv families know, well Like Maggie milo, Kidkat and
(28:15):
it's important for us that we can use local mit
source for local from local. Farmers there so definitely an
extremely important, role but it goes Beyond New zealand as
well by the size of the dairy industry In New,
zealand and that makes us Wear New zealand an extremely
high important partner for us. Globally AT, nesli.
Speaker 4 (28:34):
We'll continually being told that we need to produce low
carbon milk AND i think largely we do a good
job of that and that if we, don't, giants corporate
giants LIKE nesle will look. Elsewhere but where else in the,
World eric can you find milk with a lower carbon
footprint than here In New.
Speaker 3 (28:53):
Zealand we have extremely strong partnerships that are live. Today
the Visiit i'm making this week with Sin Let Open
Dairy fronterra are just clear illustration and living proof that
we're on the way to deploy sustainability into the space
(29:14):
of dairy product that makes economic sense for the farmers
and that all all of us to ensure our sustainable,
presence the ability to keep on producing and offering two
keyris those products that they. Love so it's absolutely on its.
Speaker 4 (29:30):
Way we live in a troubled, world especially at the
moment as zero carbon kind of yesterday's. Story our consumers
more concern these, days eric about things like, quality food
safety and ultimately just.
Speaker 3 (29:44):
PRICE i don't think we should oppose those. Two providing
high quality on food safety startups is at the core
of our. Mission we're a food. Company we're providing high
quality food staples to our consumers globally in the. World
sustainability is about making sure that we can keep on
(30:08):
being a good company over the decades to. Come we
already have a long story and you, know WHEN i
look at the farmers there In New, zealand they have
exactly the same aspirations as well that they can remain
strong farmers for the generation to. Come this is what
we are building. Together we're looking collectively to the challenges
(30:30):
that it takes to make that their industry sustainable and
this is what our partnership here is. About so this
is extremely. Important it has elements related to indeed using
lower carbon, emission but that makes absolutely business sense and
it's critically important for the sustainability of our, relationship of
(30:51):
the future and the business.
Speaker 4 (30:52):
Itself, Hi Eric gollia From. ERNIESLA i hear of, procurement
commodities and. Sustainable that have been great to catch. UP
i know you're In canterbury today with the team From,
sinlay and no doubt you're looking sideways at those Southern
alps and they remind you of your Beautiful Swiss. Alps
thanks for some of your time today on the.
Speaker 3 (31:09):
Country thank you very, Much jimmy for having me and
are we sure the.
Speaker 7 (31:14):
Rest of your?
Speaker 4 (31:15):
Death thank You, eric what a great. Accent, Eric scott
muz disappoint me. Again marz's texted And, Jamie i'm pretty
sure you're the only person who enjoy that enjoys your golf.
Stories Muzz i might have a good golf story for
you tomorrow because in my four later this afternoon at
The Otago Golf club in The Wagglers wednesday afternoon golf
(31:36):
group Is Tony, brown Spring, box a tax, coat a tax.
Coach SO i will share ANYTHING i can glean From
Tony brown this afternoon with everyone who's listening apart from,
you Muzz that's WHAT i think of your. Comments up,
Next hunter McGregor In shanghai.
Speaker 3 (32:00):
With.
Speaker 4 (32:00):
Them he's our guy In, china based out Of, shanghai
A kiwi From rocksburgh selling beef and lamb and venison
to The chinese and rubbing shoulders with very important. People hunter,
McGregor yesterday you had breakfast with The New zealand ambassador To.
Speaker 9 (32:20):
China, yeah good, Afternoon. Jamie, yes yet NO i got
invited to breakfast with Doctor Jonathan.
Speaker 5 (32:27):
Often it was.
Speaker 9 (32:28):
Really, interesting you, know to hear a few of his
remarks yesterday about what's going on and. Things and one
thing THAT i found really interesting was that last Year
New zealand exported around about fifty four million dollars of
product the day From New zealand To, china which is
an absolute fantastic result to everyone involved in the agriculture
(32:52):
industry because the end to have all the product today
came across the, board is.
Speaker 4 (32:56):
It, yeah it quates to about twenty billion parannam in.
Total how is The chinese economy getting on because other
economies around the world are really starting to feel the
pain from what's happening in The Middle. East but your
sort of, buddies WHEN i say, You china are sort
of buddies With iran because they're letting some of the
(33:16):
oil supplies through The strait Of A moves to go To. China.
Speaker 9 (33:20):
Yeah, well you, know we haven't had too much of
an increase in the price of oil or picture at
the pump, yet But i'm pretty sure it's. Coming you,
know oil goes up around the, world it's definitely going
to affect. Here so just, yeah On, MONDAY i filled
my car up with ninety two petrol, here which is
(33:40):
pretty much like ninety one In New, zealand and it
was a dollar Ninety New zealand round about dollar Ninety
New zealand. Dollars you, know last WEEK i paid about
a dollar seventy. Five so it is going. UP i
think there's one trend that that's going to be. Guaranteed
it's going to be price increases across. BOARD i don't
(34:01):
know how high they'll, go but you know that's anyone's.
Guest but you, know like In New zealand and like
everywhere in the, world there will be price.
Speaker 3 (34:08):
Increases how's business for?
Speaker 4 (34:09):
You how's The chinese domestic.
Speaker 9 (34:11):
Economy, well you, know it's we've always sort of said
it's sort of just ticking. Along you, know it's you,
know yesterday at this, breakfast they're talking about how THE
pmi that The Purchasing Manages index for larger companies is,
growing so that means that larger companies are doing, well
but for medium and smaller companies it's. Shrinking so it
(34:36):
means that that part of the economy is not doing
that that. Well and you know that you, know a
small enterprise and training is under ten million dollars, turnover
but that's around eighty percent.
Speaker 6 (34:47):
Of the urban.
Speaker 9 (34:48):
Workforce it's you, know it's a majority of.
Speaker 5 (34:52):
The.
Speaker 9 (34:52):
Country and you, know AND i, said you, know even
in my office, building you, know smaller companies and things that,
turnover companies are closing gown people are, downsizing and you,
know in my office, building you, know the smaller offices
get leased out a bit faster than the bigger.
Speaker 7 (35:10):
Ones so it's.
Speaker 9 (35:11):
Challenging but you, Know i'm saying that there's still there's
always opportunities up, here and you, know there's still plenty of,
happening so you, know we're always looking to not pivot
but adjust and do something a bit different and that
and sees the. Opportunity so you, know it's a challenging.
Speaker 4 (35:27):
Yet one point four billion opportunities right right on your
on your back. Door there Was Chinese New. Year good
for business for.
Speaker 9 (35:34):
You, yeah it's always a bit of a leading up
To Chinese New. Year it is After Chinese New, year
it's a bit. FLAT i was just talking to a
couple of restaurant owners in the last week or so
and they Said sebrary for, Them Chinese New year is
pretty dead in This, february the month That Chinese New
(35:55):
year is, in is always sort of a leading up
To Chinese New year is busy and then hitchraining it
just goes flat for. Them and they said this Year
february was particularly. Bad but things are picking back. Up
but you, know for, us it's always a it's always
a bit of an uptick and then things sort of drop,
off and you know it's sort of ebbs and, flows
(36:15):
and you, know we roll on and keep moving. Forward
but you know it's going to be another challenging, year
but there's still opportunities out. There we're just going to
roll up as leaves a bit more and get out
there and get amongst them and give it a good.
Speaker 4 (36:28):
Nutch well that's the. Attitude just, finally a lot of
fertilizers are made In china and there is an export
ban at the moment for some of. Them that is
going to be one of the big worries for, farmers
not only In New zealand but right around the. World
the price of, fuel, obviously, fertilizer, transport getting our goods
to and from, market and, packaging even the.
Speaker 5 (36:50):
Plastic, yes, yeah, no that's all going to go.
Speaker 9 (36:54):
Up what was seeing. That you, know we're heading into spring,
here so there's a lot of, fertilizer you especially in
the north Of china after after all the ground thoughts
and stuff and they do spring. Planting so, yeah you,
know everything across the board is only going to go
up that that's involved with oil and gas and things like.
(37:15):
That and, unfortunately so fertilizer is going to be pretty
pretty quickly to go go north and who knows how
high it's going to, go and it's going to put
pressure on. Everything so, yeah challenging times and who knows
what's going to happen in the next couple of. Weeks
Hopefully Old trump.
Speaker 4 (37:30):
And get things out and how you're holding your breath?
There i'm not, Hey, Hunt, Look i'm out of. Time sorry,
MATE i need to get on my bike and probably
you literally do In shanghai as well to save a
bit of that precious. Fuel thanks for your, Time, hunter
will catch you again in a couple of.
Speaker 9 (37:45):
Eggs yeah, here Thanks.
Speaker 3 (37:46):
Jamie good on Your.
Speaker 4 (37:48):
Hunter. Right that wraps The country for. Today Tomorrow Winston,
Peters Jane, Smith Dom, Jones Talking, key We, Fruit Peter,
Newbold The price Of Your, farm and Our ossie Correspondent Chris. Russell,
Right i'm off to get a good golf story From Tony.
Brown i'll catch you. Tomorrow fun.
Speaker 1 (38:09):
Catch all the latest from The. Land it's The country
podcast With Jamie. Mackay thanks To farmlands with feed for
every animal from chokes to.
Speaker 2 (38:17):
Dogs
Catch you're the latest from the land. It's the Country
Podcast with Jamie McKay thanks to Farmlands with feed for
every animal from chukes to dogs.
Speaker 2 (00:13):
It's if you feeling you need a little bit of
met me at the perfect time.
Speaker 1 (00:20):
You love me.
Speaker 2 (00:22):
I low, I got you start.
Speaker 3 (00:34):
I need you come.
Speaker 4 (00:37):
Me Good a New Zealand. Good afternoon. This is the Country.
I'm Jamie McKay with Dua Lipa and Todd McClay, the
Minister of Agriculture and Trade, Mike McIntyre from Jardin another
good well, a positive dairy trade auction overnight. That's six
in a row to kick off twenty twenty six, after
nine drops in a row for the end of twenty
(00:59):
twenty five. Todd charteris at a rabobank the Latest, The
Latest with the Farmer Confidence Survey. A guy by the
name of Eric Gollier looking forward to catching up with him.
Nessley's Swiss Bace, Head of Procurement, Commodities and Sustainability. What
does all that mean? We'll ask Eric a wee bit
later in the show. And our guy in Shina his
(01:20):
name is Hunter McGregor. Let's kick off the show though
with the Minister of agriculture and trade. Now, Todd maclay,
with what's happening in the Middle East at the moment,
it makes the free trade agreement agreement with India even
more important and strategic.
Speaker 5 (01:37):
Good afternoon, Jamie, good afternoon. You are absolutely right. Our
free trade agreements, from the new one with India, to
China to the European Unity of uk TCPT be, all
of them is actually what's going to help us get
through this current challenge in the crisis. And exactly, India's
(01:57):
one point four billion people and they want to buy.
Speaker 6 (02:00):
From New Zealand.
Speaker 5 (02:01):
We're going to work very hard to get that sign
and in place before the election.
Speaker 4 (02:06):
Unfortunately, when the Good Lord made this planet, Todd, he
plunked all a lot of the oil in one place.
It's very hard to get in and out of, and
it's very much concentrated, and the world is so dependent
and we're not very resilient here in New Zealand when
you think about it, we don't even have an oil refinery.
Speaker 5 (02:24):
Now, no, that's right, we're not as resilient as we were,
although of course if we go out to Taranaki there
is oil and gas there. It's been helping us so
many years. You know, the last government decided we didn't
need to explore for gas anymore, and that's part of
the reason we've seen the energy costs go up so much.
But you are right, we are dependent upon oil. We're
seeing a price of fuel at the pump go up.
(02:46):
We have a ministerial group pulled together. We meet very
early every morning to be updated on exactly what's happening
across the economy, including with fuel stocks, and I think
later on today you'll see us release of our latest figures.
We are in a good place, but we are not
sitting here hoping. Hope is not a strategy. We're engaging
with business and industry and the fuel companies to make
(03:06):
sure that you know, in whatever happens to New Zealand
can be at the front of the queue.
Speaker 4 (03:10):
Well, we've talked about being resilient with mothboard Maston point.
Goodness knows whether we can reignite that. I don't know
about that one, but Caperni the urea plant balance, Sagra nutrients.
We talked to Calvin Wickham on yesterday's show about this.
This is surely a reminder that we need some resilience
on the fertilizer front in terms of creating our own product.
Speaker 5 (03:34):
Yeah, that is right. We have enough fertilizers in New
Zealand to get us through the autumn. I actually had
a very long zoom meeting this morning with about forty
or fifty companies. Those that are export are from the
primary sector, and those are import also to support supply
the primary sector. The third companies were on there. They
are in a good place, although they are saying that
(03:54):
you know, in the months to come, if this war
goes on longer than anybody would want, then ultimately some
of those that they buy the ingredients for the fertilizer from,
well you know, it'll be challenging. They are looking at
other markets and other places to get it. Then, at
the moment, we're focusing on the here and now, what
it looks like this week and for the next three
(04:15):
or four months. But I think you're right, Jamie, there
will be a conversation to be had about resilience. Energy
security is a word that actually we in national views
for a long time, and we need to keep talking
about that as well as all the other things that
keeps our economy going. If we don't have fertilizer we
don't get to produce the food that the world needs.
But we're working very, very hard to make sure that
(04:37):
after the autumn we all have the supplies we need
for our farmers.
Speaker 4 (04:41):
And I know you're getting these daily updates. As you said,
how much of our trade is currently stored sitting on
a boat somewhere going nowhere.
Speaker 5 (04:49):
So into the Middle East, we have about three billion
dollars worth of exports a year. Some of the ports
are opening and closing, and so if you mentioned the
GDP dairy option overnight, quite a bit I understand was
purchased from that part of the world, the Middle East,
So they will only be doing that because they believe
that they can get the dairy that they need into
(05:10):
those markets. But for the rest of the world, the
other you know, the remaining seventy eight billion dollars worth
of exports. Those markets are open, there will be delays
in some cases for shipping, and we're looking at that
to make sure the ships get down to New Zealand
full in both directions. And then at the same time,
I think we are going to see prices increase for
(05:33):
freight and shipping. But as far as the Middle East
is concerned, the majority of the ports have been closed,
but they are working I know, very quickly there to
get them open again. And you know, I have a
call actually this evening with my counterpart of the UAE
where I'll hear directly from him about their plans and
what they're doing.
Speaker 4 (05:49):
What are the alternative trade routes or transport mechanisms other
than by sea. Obviously we can get stuff in buy air,
but it's very very expensive.
Speaker 5 (06:00):
Defensive Emirates are flying again out of Good Guy down
to New Zealand. That made a few changes to the
number of flights, so I know they're looking at whether
they bring another plane in for freight. So they themselves
in the region will want our goods as much as
we want to sell them to them, and they'll be
working through that as well. You think about Singapore, we
have negotiated agreements with them about ensuring that shipping remains
(06:22):
open and continues down to New Zealand, as well as
the supply of essential goods. That agreement is not enforced yet,
but we've had conversations with the Singapore government and both
governments are saying we should honor the conditions of that agreement,
even though it hasn't been signed yet and so Jamie.
In as far as our access to the European Union
and the UK markets, this is different there with those
(06:45):
Hotey rebels a while ago where they were out attacking
the ships. This is predominantly only affected in the golfer
and so it's access to those markets directly fuel and
fertilizer out and for some of those sports our products.
But the countries themselves who are not directly involved in
the war, although are affected by it, working around the
clock to make sure that both goods and services can
(07:07):
get them from the outside world.
Speaker 4 (07:08):
And the final question for you, Todd McLay, what's your
old mate Winston Peter's doing slamming Miles Hurr or we
should be as a nation patting Miles Hurrl on the back.
Speaker 5 (07:18):
Well, Miles has done a great job. He called me
the other night to tell me that he was the
Knights and I think his retirement and I thanked him
on behalf of not only our farmers, our dairy farmers,
but the wider New Zealand for the significant contribution he's made.
Think about when he started all twenty five years ago
or so, and then the last eight years of the
CEO what Fonterra was like then compared to now, and
(07:40):
he has been able to focus it and sharpen it
and it does nothing but deliver for our farmers and
it has their best interest at heart in everything that
they do. So put the politics aside. Miles. Thanks to
what you've done. You deserve a break, but a very
short one, and there'll be many other companies. Then I
would like you to do the same job, irrespective of
some of what some of my cabinet colleagues might think.
Speaker 4 (08:02):
And I've got the cantankerous old bugger on the show tomorrow.
Wish me luck.
Speaker 5 (08:06):
Todd well, if he wasn't like that, you wouldn't like him.
Speaker 4 (08:08):
So he's good for ratings yet ye he's good on you.
There we go Todd McClay, Minister of Agriculture and Trade
and his father Roger. He is a very good friend
of Winston's back in the day. See Winston spans several generations,
or at least two generations of politicians. It is fifteen
after twelve year with the country. We alluded to it
(08:31):
with Todd McLay, the GDT auction overnight. This is six
in a row, all be it only up zero point
one percent, but skim milk powder seems to be the
new white gold. We'll talk about that with Mike McIntyre
after the break. Welcome back to the country. I don't
(09:08):
know what happened to jessej then she went missing on me,
but I've got her and I've also got from Jardin,
head of Derivatives dairy analyst. I was going to say,
Miles Hurral, that's a fraudy and slip. Let's try Mike McIntyre. Mike,
we might start with Miles. Do you think Winston's being
a bit uncharitable sort of slamming him for taking the
(09:30):
money and running.
Speaker 7 (09:31):
Oh well yeah, just for slamming in the first place.
I think he's done a fantastic job. So but no surprise,
I own guess and even this is an opportunity, does
he so part of the course.
Speaker 4 (09:41):
Yeah, we wish Miles hurrall all the best. I'm still
hearing rumors, mind you, I got it wrong with poor
old yolo Wayne Langford. He's on the show a bit
later in the week about standing in West Coast Tasman.
Although I do know there will be some interesting candidates there.
I'm here Miles may still be interested in New Zealand rugby.
(10:03):
That's out of the frying pan into the fire.
Speaker 7 (10:06):
It certainly would be. It wouldn't be without its challenges.
But you know, if anyone's good for the job, it's
perhaps some.
Speaker 4 (10:11):
I think he'd be great. You're good for New Zealand rugby.
Between him and David Kirk, they would tidy it up.
A couple of smart business people right here. Let's have
a look at that global dairy trade auction overnight made
it six in a row, only up zero point one percent.
Whole milk powder down four percent. What's with skim milk powder?
We can't get enough of it.
Speaker 7 (10:31):
That's right, and I think that's actually quite favorable for
the outcome for the rest of the season as well,
because if you have a look at the combination of
skim and butter, or even skim and amy, if they
both outperform homework powder returns quite substantially. So to see
skim hold its own, especially at this time of the
year where the big Northern Hemisphere sellers come online, you
know it's good for New Zealand dairy.
Speaker 4 (10:52):
I think all this is happening amidst a backdrop of
this economic and trade term oil almost around the world,
and an excuse me, and a bit of a glut
certainly a good supply of dairy products. So you know,
we're effectively with these prices swimming against the tide.
Speaker 7 (11:15):
We are, but the world has changed in terms of
you know, what everyone's producing. So in the States, you know,
in the last couple of years, I've introduced another nine
billion in processing assets to really capture that protein theme.
So in the States now in snacking bars and convenience foods,
everything's got added protein. The fascination with protein hasn't been
missed by the dairy industry over there. So rather processing
(11:37):
milk and to skimmel powder, which is basically the core
ingredient or the base ingredient, you know, they're finding higher
returns for the milk, and as such we've seen a
constraint in terms of the amount of skin they're able
to send into the market. And I think new zeone's
really benefit from that. You know, really good run last
night obviously prices well up and certainly introduced that premium
again over European product. But you know, we're trading in
(12:00):
a discount to US skim price, which is something that
which is typically doesn't happen.
Speaker 4 (12:05):
Yeah, we're trading at it because you threw the numbers
at me. Is that I acquoted them to hear the
dupless l we're trading it quite a discount to the
Chicago Mercantile whatever it's called.
Speaker 7 (12:15):
The CME Chicago Mercantile Exchange.
Speaker 4 (12:17):
Yeah, I nearly got it.
Speaker 7 (12:19):
Yeah, No, you were there essentially a dollar at your pound.
It was this morning on their on their daily auction,
which translates into close to four thousand dollars a ton.
And as you said, you know, we're about five three
five I think, and probably a little surprising. You know,
skimerl powder's trading only a small discount to homeletpowder, And
essentially then for you're not valuing the true amount of
(12:41):
the fat return. So you'd rather put money the fad
into home sorry, into amf and butter and get a
better return in process the milk and to hold powder
the summer year.
Speaker 4 (12:50):
When we must be getting close to a stage in
the season, Mike McIntyre where effectively we've locked down this
season's payout. When when do we kind of get past
the peg and the sand on that.
Speaker 7 (13:03):
One, Well, certainly by the end of next month. So
certainly by the end of April you've got a pretty
good idea in terms of what it's going to be.
But as you say, we're getting pretty close to knowing
what it is. I think the low end of fon
Teran's current guidance at nine to twenties probably in the
revision mirror now, you know. I think probably nine fifties
looking like more like a minimum, and certainly the futures
are saying that to us. But yeah, give us another
(13:26):
few weeks, we're a couple more GDT events and we'll
have a pretty good idea on the number. I think.
Speaker 4 (13:30):
So, where are the futures sitting at for twenty six,
twenty seven, twenty.
Speaker 7 (13:35):
Six to twenty seven seasons last at nine sixty three,
I think probably they we can have touched this morning,
just in terms of the dependence on Homwark powder for
that price. And obviously that was a disappointing result, mainly
again on the result result of China not toot up
to the auction. Typically they buy well over half of
the homwaltpowder scam and butter, and they were well down
on both homwartpowder and butter and only five and a
(13:57):
half percent of the SCEM, so that's probably the one
can sin I take out of that option, just the
stepping back of their demand which has obviously been cheated
the success the new Yellan season.
Speaker 4 (14:06):
Otherwise, have you got are you keen to wage or
has it a guess as to who the next chief
executive Fonterra might be if it was an internal appointment.
Speaker 7 (14:19):
I'm not up to speed on who.
Speaker 4 (14:21):
The king you're into the futures markets. Surely you can
give us.
Speaker 7 (14:24):
Something well othor my own head in the name and
name of the hat. Sorry, you know it'll be worth
a look on the other side of the court.
Speaker 4 (14:32):
Yeah, yeah, well six million bucks, why wouldn't you? Okay,
Mike McIntyre out of Jardin, thanks the time. I'm always
appreciate it.
Speaker 7 (14:39):
Thanks for rushmming.
Speaker 4 (14:40):
There we go. This is price tag. There's a good
price tag goes with Miles Hurrell's job. But he's earned it.
He's absolutely earned it. Okay, Right, let's take a break
on the other side of it. The farmer confidence survey
was released this morning. We're going to chat to Rabobanks
chief chief executive about that and what's going to happen
(15:02):
to your interest rates. We might ask him before the
end of the hour. He's in the country to visit Fonterra,
Open Country, Dairy and Sinlay. He's with Sinlay at the moment.
Eric Gollier and Hunter McGregor's agi in Shanghai, all on
the country. Before the end of the hour, Michelle's got
rural news and we'll have a look at sports news
see if Miles Hurrell has been named chief executive of
(15:26):
nz ARE. Following a dip in the final quarter of
twenty twenty five, farmer confidence has reversed course an inch hire,
(15:51):
so says the first Rabobank Rural Confidence Survey for the
Air To tell us more about it, Chief Executive Todd
Charteris and Todd it's dairy and the rebound and dairy
that's driving this farmer confidence higher, albeit only slightly.
Speaker 6 (16:09):
Yeahamian, Yeah, Look, it's great to see and off the
back of a long period of positive positivity across all sectors,
it's good to see. Yeah, dairy bounce back up on
the back of I think it's six GEDT options now
positive options and so it's good to see and not
the standing favor of uncertainty out there at the moment,
but their confidence levels are still high.
Speaker 4 (16:31):
Yeah, GDT up zero point one percent. Skim milk powder
seems to be going a great gun, so we'll take
that in these uncertain times. So the dairy farmers are confident,
as you say, six in a row following nine falls
in a row to wind out twenty twenty five, So
no surprise there. What about the sheep and beef peat guys.
Speaker 6 (16:52):
Yeah, look, but it's still positive territory there. It's come
back slightly but very high in that last quarter of
twenty five, So there's still a lot of positivity out there.
We're seeing it in red meat prices and you know,
I know you've spoken about it.
Speaker 3 (17:07):
You know, the wall.
Speaker 6 (17:08):
Improvement has been well received as well. So yeah, overall,
you know, still very positive and long may that continue.
It's you know, we need a few good years for
those sectors who have been pretty badly impacted in the past.
Speaker 4 (17:23):
We talked about six in a row for the global
dairy trade auction positive while sentiment remains elevated at net
positive levels for the seventh consecutive Rabobank Rural Confidence survey,
so that paints the primary sector in a really positive light.
Speaker 6 (17:40):
Yeah, and we need it, don't we. I mean it's
really driving the overall economy in New Zealand, and that's
really positive because we need some positive signs out there,
you know, and we're seeing it in investment and tensions.
You know, we are seeing reinvestments back into businesses big time.
You know, when I'm out talking to farmers and growers,
(18:03):
you know, some deferred maintenance, but you know they're reinvesting
back into the properties is property markets. There's a bit
of a bit of movement in that as well. So
I think it's all good signs. And obviously we've got
the you know, the Fonterier dividend payment next month too,
which I think will really underpin that optimism going forward.
What about the horticulturalists, Yeah, they've improved a bit, which
(18:27):
is good to see. I would say, without diving into
the detail, I would expect to be driven by Kiwi fruit.
I was in the bar plenty this week and things
are underway, certainly big time over there. We went through
a packhouse and Mountain, caught up with one of the
growers and things are looking very good in that sector
and I would expect that driving some of that in
(18:49):
the horticultural space.
Speaker 4 (18:51):
We live in a troubled world at the moment, a
very troubled world. At the moment. Interest rates are going
to go up. What are your economists at rabobanks saying
regarding timing and how much?
Speaker 6 (19:03):
Oh, look, I mean the market has definitely moved. I mean,
you know, what we're seeing is certainly inflationary. We're seeing
input prices go up and you know, farm and that's
the biggest concern for our farmers out there is if
anything's driving some of the negativity, it's just the uncertainty
around input costs. So we're seeing it fertilizer and fuel.
(19:26):
But they are inflationary, so there's going to be pressure
on interest rates. We saw the rb A move yesterday
in Australia, but you know, wholesale market rates have been
edging higher and yeah, that's just a reflection really of
those plationary pressure.
Speaker 4 (19:42):
I want to give you a pat on the back,
you and the team at Rabobank for your Rabobank Good
Deeds competition and it's tenth year Todd Charterress. To celebrate,
you're giving away one hundred thousand dollars ten prices of
ten grand h to upgrade ten rural community hubs across
New Zealand. I joke that the Riversdale Rugby Club is
(20:03):
one of them, todd so that only leaves nine. But
people have till the end of the month to apply
for this. Where are you finding one hundred grand down
the back of the sofa?
Speaker 6 (20:14):
Now, look, we're really proud of this. This comes out
of our Ravo Community Fund that we set aside each year,
really guided by our Client Council. So yeah, we got
some amount away last year, actually Jamie, smaller amounts, so
we want to make bigger impact this year. You know,
I know there'll be a lot of interest, which is great.
(20:35):
Encourage you to get your Riversdale Rugby Club entry in.
It'll go with everything else into consideration. And yeah, I'm pleased.
I'm not one of the judges, but we would expect
well several hundred entries we got last year, so you
get them in by the end of the month. And
we look forward to continuing to support rural New Zealand.
It's a huge part of what we do, huge part
(20:58):
of New Zealand society. So looking forward to playing your
partner that regard.
Speaker 4 (21:02):
YEP and if you want to enter, and as Todd said,
entries closed at the end of the month March thirty.
First text good to our text line number five doub
nine and we'll send you the link to enter. Todd
charteris from Rabobank. Thanks for your time and ask your
mate and Queenstown Jeffrey Morrison, one of your Rabobank executive,
how he got on at the eighteenth at Millbrook last weekend.
(21:24):
I'll see you later.
Speaker 6 (21:25):
Hey, good on you, Jomie. I'll do that catch up,
so thanks.
Speaker 4 (21:29):
Make sure you do. Thank you. Todd has something to
do with reptiles and snakes. I think hello Jeffrey, if
you're listening, Ah, took a great load off my shoulders
when you took the snake off me. Fun times in
Central Otago last weekend. Right up next, Michelle what with
the latest and rural News, will have sports news for
(21:49):
you as well before the end of the hour. Is
in the country from Nesle, Swiss based. He's the Swiss
based head of Procurement, Commodities and Sustainability who's calling all
the shots. Company's night. Like Nesle, we will ask them
and a Hunter McGregor's agi in Shanghai Welcome back to
(22:18):
the country, brought to you by Farmlands and I Suzu
very shortly the latest and rural news and sports news.
Blocks are funny. When it comes to shopping around, most
of us just stick with what we've always known, same bank,
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and hearing aids can be the same. When your ACC
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(22:41):
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Speaker 1 (23:20):
Six sit down the country's rural news with Cub. Cadet
it's one thing to talk innovation another to back it
up drive it we dare you visit steel for dot
co Dot nz for your local star.
Speaker 4 (23:33):
Guest oh almost came over the top Of john mcavinnie's
line of sorry about that, One, JOHN i was thinking
About Michelle's Rural news and more importantly her. Greyhound who's
her new? Greyhound which is your and your Husband richard's new,
baby and you wanted to bring it to. Work that
caused some, debate in consternation in the studio, Yesterday, michelle
(23:55):
it did.
Speaker 8 (23:55):
Feelix you Know karen takes his greyhound into.
Speaker 4 (23:58):
Parliament, Karen, Yeah karen.
Speaker 8 (24:01):
Mcinnaughty he's got. ONE i think it's Called. Daisy, yeah
so what so he takes us into. Parliament if parliament's
good enough for the, GREYHOUND i feel in it in,
Me dunedin's good enough for.
Speaker 3 (24:12):
One.
Speaker 8 (24:12):
Felix, felix what's fit in quite?
Speaker 9 (24:14):
Well?
Speaker 4 (24:14):
Yeah, look but this is like work from. Home leave
your pet at, home come and do an honest days.
Toll admittedly you do that and then go home and
pat your.
Speaker 8 (24:22):
DOG i need an emotional support dog after working with
the all, Day.
Speaker 4 (24:25):
Jamie that's what it's. About go home and the. Dog
what do you got In Rural?
Speaker 8 (24:29):
NEWS a new national award recognizing the contribution of women
To New zealand's rural communities has been, launched with nominations now.
Open The Rural woman of The Year award has been
established by A Federated farmers And Rural Woman New, zealand
with the winner to be announced at The Primary Industry
awards In auckland On june twenty. Third, now nominations for these,
AWARDS i think close on the first Of, April so
(24:51):
hits the. Website if you know anyone that's Deserving Jamie hunt, hint, yeah.
Speaker 4 (24:54):
Okay and what about if you want to nominate The
Rural man of The, year how do you do? That
you don't need an, Award you've got an. Stuff, no, no,
no, no not. Me i'm just, saying obviously we need A
Rural man of The year as, well don't.
Speaker 8 (25:05):
WE i knew you were going to ask about. That
you need to Ask feeds about.
Speaker 4 (25:07):
That on FIRE i will Ask. Feeds i'll Ask wayne
and Ask wayne what he's doing for the next. Year
his sport.
Speaker 1 (25:14):
Sports on the country WITH afco one hundred. Percent we
owned and trusted. It that's.
Speaker 6 (25:19):
Rare.
Speaker 4 (25:20):
Okay let, me, yes my clock is counting my clock is.
Counting host Nation morocco has belatedly gifted The African cup
Of nations football. Crown the one nil extra time win
By senegal in the final has been overturned Because senegal
left the field for fifteen minutes in protest at a penalty,
decision and The African confederation has deemed the move a.
(25:43):
Forfeit that wasn't their. Wise this choice. Was it's like
bringing a greyhound to. Work MOANA pacifica Halfback Augustine pullu
has been suspended for three matches for bringing a greyhound
no for swing for a swinging arm tackle And Super
rugby's going to go, On, Hey i'm like A i
was going to say a dog with a. Bone i'm
(26:03):
like a greyhound with the. Bone i'm like a greyhound
with the. Bone, anyhow up next we're going to get.
SERIOUS i might have to Ask eric the hard. Question,
well this is this is the bloke From nesle are
they calling the? Shots is zero? Carbon so twenty twenty
five going to Ask eric? Next Eric Gollier hunter McGregor's
In china And i'm going to chat to him before
(26:25):
the end of the. Hour here is an interesting character
who is visiting the. Country at the moment we find
him at the Sin lay, offices but he's also going
(26:46):
to be catching up With monterra And Open Country. Derry
his name Is Eric. Golia he Is nessley's head Of,
Procurement commodities And, Sustainability swiss Based, eric first time In New.
Zealand what do you make of our?
Speaker 3 (27:02):
Country, Yes, jimmy first, time first time In New, Zealand.
India very excited with the agenda is that you just put.
Together that's a country that he is extremely important to
us AT neslei because he plays a unique role both
locally on. Globally so a very heavy agenda foods of
(27:24):
visias with our partners there this.
Speaker 4 (27:26):
Week nesla is the world's largest food and beverage. Company
it is present in one hundred and eighty five countries
around the. World So, eric what are you looking for
from These New zealand dairy companies that are supplying You
because we're hearing all about getting to zero carbon milk
by twenty fifty and all this sort of. Stuff is
(27:47):
that realistic these? Days?
Speaker 3 (27:51):
Yeah thank You jimmy for the. Question New Zealand farmers
the produce was one of the world's highest quality milk
thanks to their deep, expertise they've got very strong farming
capabilities and that quadity allows us to make products that
OUR qiv families know, well Like Maggie milo, Kidkat and
(28:15):
it's important for us that we can use local mit
source for local from local. Farmers there so definitely an
extremely important, role but it goes Beyond New zealand as
well by the size of the dairy industry In New,
zealand and that makes us Wear New zealand an extremely
high important partner for us. Globally AT, nesli.
Speaker 4 (28:34):
We'll continually being told that we need to produce low
carbon milk AND i think largely we do a good
job of that and that if we, don't, giants corporate
giants LIKE nesle will look. Elsewhere but where else in the,
World eric can you find milk with a lower carbon
footprint than here In New.
Speaker 3 (28:53):
Zealand we have extremely strong partnerships that are live. Today
the Visiit i'm making this week with Sin Let Open
Dairy fronterra are just clear illustration and living proof that
we're on the way to deploy sustainability into the space
(29:14):
of dairy product that makes economic sense for the farmers
and that all all of us to ensure our sustainable,
presence the ability to keep on producing and offering two
keyris those products that they. Love so it's absolutely on its.
Speaker 4 (29:30):
Way we live in a troubled, world especially at the
moment as zero carbon kind of yesterday's. Story our consumers
more concern these, days eric about things like, quality food
safety and ultimately just.
Speaker 3 (29:44):
PRICE i don't think we should oppose those. Two providing
high quality on food safety startups is at the core
of our. Mission we're a food. Company we're providing high
quality food staples to our consumers globally in the. World
sustainability is about making sure that we can keep on
(30:08):
being a good company over the decades to. Come we
already have a long story and you, know WHEN i
look at the farmers there In New, zealand they have
exactly the same aspirations as well that they can remain
strong farmers for the generation to. Come this is what
we are building. Together we're looking collectively to the challenges
(30:30):
that it takes to make that their industry sustainable and
this is what our partnership here is. About so this
is extremely. Important it has elements related to indeed using
lower carbon, emission but that makes absolutely business sense and
it's critically important for the sustainability of our, relationship of
(30:51):
the future and the business.
Speaker 4 (30:52):
Itself, Hi Eric gollia From. ERNIESLA i hear of, procurement
commodities and. Sustainable that have been great to catch. UP
i know you're In canterbury today with the team From,
sinlay and no doubt you're looking sideways at those Southern
alps and they remind you of your Beautiful Swiss. Alps
thanks for some of your time today on the.
Speaker 3 (31:09):
Country thank you very, Much jimmy for having me and
are we sure the.
Speaker 7 (31:14):
Rest of your?
Speaker 4 (31:15):
Death thank You, eric what a great. Accent, Eric scott
muz disappoint me. Again marz's texted And, Jamie i'm pretty
sure you're the only person who enjoy that enjoys your golf.
Stories Muzz i might have a good golf story for
you tomorrow because in my four later this afternoon at
The Otago Golf club in The Wagglers wednesday afternoon golf
(31:36):
group Is Tony, brown Spring, box a tax, coat a tax.
Coach SO i will share ANYTHING i can glean From
Tony brown this afternoon with everyone who's listening apart from,
you Muzz that's WHAT i think of your. Comments up,
Next hunter McGregor In shanghai.
Speaker 3 (32:00):
With.
Speaker 4 (32:00):
Them he's our guy In, china based out Of, shanghai
A kiwi From rocksburgh selling beef and lamb and venison
to The chinese and rubbing shoulders with very important. People hunter,
McGregor yesterday you had breakfast with The New zealand ambassador To.
Speaker 9 (32:20):
China, yeah good, Afternoon. Jamie, yes yet NO i got
invited to breakfast with Doctor Jonathan.
Speaker 5 (32:27):
Often it was.
Speaker 9 (32:28):
Really, interesting you, know to hear a few of his
remarks yesterday about what's going on and. Things and one
thing THAT i found really interesting was that last Year
New zealand exported around about fifty four million dollars of
product the day From New zealand To, china which is
an absolute fantastic result to everyone involved in the agriculture
(32:52):
industry because the end to have all the product today
came across the, board is.
Speaker 4 (32:56):
It, yeah it quates to about twenty billion parannam in.
Total how is The chinese economy getting on because other
economies around the world are really starting to feel the
pain from what's happening in The Middle. East but your
sort of, buddies WHEN i say, You china are sort
of buddies With iran because they're letting some of the
(33:16):
oil supplies through The strait Of A moves to go To. China.
Speaker 9 (33:20):
Yeah, well you, know we haven't had too much of
an increase in the price of oil or picture at
the pump, yet But i'm pretty sure it's. Coming you,
know oil goes up around the, world it's definitely going
to affect. Here so just, yeah On, MONDAY i filled
my car up with ninety two petrol, here which is
(33:40):
pretty much like ninety one In New, zealand and it
was a dollar Ninety New zealand round about dollar Ninety
New zealand. Dollars you, know last WEEK i paid about
a dollar seventy. Five so it is going. UP i
think there's one trend that that's going to be. Guaranteed
it's going to be price increases across. BOARD i don't
(34:01):
know how high they'll, go but you know that's anyone's.
Guest but you, know like In New zealand and like
everywhere in the, world there will be price.
Speaker 3 (34:08):
Increases how's business for?
Speaker 4 (34:09):
You how's The chinese domestic.
Speaker 9 (34:11):
Economy, well you, know it's we've always sort of said
it's sort of just ticking. Along you, know it's you,
know yesterday at this, breakfast they're talking about how THE
pmi that The Purchasing Manages index for larger companies is,
growing so that means that larger companies are doing, well
but for medium and smaller companies it's. Shrinking so it
(34:36):
means that that part of the economy is not doing
that that. Well and you know that you, know a
small enterprise and training is under ten million dollars, turnover
but that's around eighty percent.
Speaker 6 (34:47):
Of the urban.
Speaker 9 (34:48):
Workforce it's you, know it's a majority of.
Speaker 5 (34:52):
The.
Speaker 9 (34:52):
Country and you, know AND i, said you, know even
in my office, building you, know smaller companies and things that,
turnover companies are closing gown people are, downsizing and you,
know in my office, building you, know the smaller offices
get leased out a bit faster than the bigger.
Speaker 7 (35:10):
Ones so it's.
Speaker 9 (35:11):
Challenging but you, Know i'm saying that there's still there's
always opportunities up, here and you, know there's still plenty of,
happening so you, know we're always looking to not pivot
but adjust and do something a bit different and that
and sees the. Opportunity so you, know it's a challenging.
Speaker 4 (35:27):
Yet one point four billion opportunities right right on your
on your back. Door there Was Chinese New. Year good
for business for.
Speaker 9 (35:34):
You, yeah it's always a bit of a leading up
To Chinese New. Year it is After Chinese New, year
it's a bit. FLAT i was just talking to a
couple of restaurant owners in the last week or so
and they Said sebrary for, Them Chinese New year is
pretty dead in This, february the month That Chinese New
(35:55):
year is, in is always sort of a leading up
To Chinese New year is busy and then hitchraining it
just goes flat for. Them and they said this Year
february was particularly. Bad but things are picking back. Up
but you, know for, us it's always a it's always
a bit of an uptick and then things sort of drop,
off and you know it's sort of ebbs and, flows
(36:15):
and you, know we roll on and keep moving. Forward
but you know it's going to be another challenging, year
but there's still opportunities out. There we're just going to
roll up as leaves a bit more and get out
there and get amongst them and give it a good.
Speaker 4 (36:28):
Nutch well that's the. Attitude just, finally a lot of
fertilizers are made In china and there is an export
ban at the moment for some of. Them that is
going to be one of the big worries for, farmers
not only In New zealand but right around the. World
the price of, fuel, obviously, fertilizer, transport getting our goods
to and from, market and, packaging even the.
Speaker 5 (36:50):
Plastic, yes, yeah, no that's all going to go.
Speaker 9 (36:54):
Up what was seeing. That you, know we're heading into spring,
here so there's a lot of, fertilizer you especially in
the north Of china after after all the ground thoughts
and stuff and they do spring. Planting so, yeah you,
know everything across the board is only going to go
up that that's involved with oil and gas and things like.
(37:15):
That and, unfortunately so fertilizer is going to be pretty
pretty quickly to go go north and who knows how
high it's going to, go and it's going to put
pressure on. Everything so, yeah challenging times and who knows
what's going to happen in the next couple of. Weeks
Hopefully Old trump.
Speaker 4 (37:30):
And get things out and how you're holding your breath?
There i'm not, Hey, Hunt, Look i'm out of. Time sorry,
MATE i need to get on my bike and probably
you literally do In shanghai as well to save a
bit of that precious. Fuel thanks for your, Time, hunter
will catch you again in a couple of.
Speaker 9 (37:45):
Eggs yeah, here Thanks.
Speaker 3 (37:46):
Jamie good on Your.
Speaker 4 (37:48):
Hunter. Right that wraps The country for. Today Tomorrow Winston,
Peters Jane, Smith Dom, Jones Talking, key We, Fruit Peter,
Newbold The price Of Your, farm and Our ossie Correspondent Chris. Russell,
Right i'm off to get a good golf story From Tony.
Brown i'll catch you. Tomorrow fun.
Speaker 1 (38:09):
Catch all the latest from The. Land it's The country
podcast With Jamie. Mackay thanks To farmlands with feed for
every animal from chokes to.
Speaker 2 (38:17):
Dogs
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