Here’s to the season ahead
Christmas has quietly appeared on the horizon and, for those too busy to notice, local stores and suppliers are already upping the ante to get organized and plan ahead! Supply chains for farm inputs and exports remain under pressure and demand is likely to increase leading into Christmas.
Inflation and interest rates are a big topic with all sectors. All businesses are facing upward pressures on interest rates which may result in up to 50% to debt servicing costs on a floating rate. This is a huge concern for farmers, fortunately there is the possibility the Reserve Bank may have to drive interest rates down in order to stimulate a stagnating economy post COVID. Only time will tell where we end up, but it is certainly not all doom and gloom.
There is good news to celebrate following the government ‘UK Free Trade Agreement’ announcement likely to be ratified in the New Year. The Agreement has been a long time in the making but finally the breakthrough we wanted was finalized which has resulted in a sense of quiet optimism among producers.
Riding out the challenges faced by all producers is all about planning ahead. Fluctuations in product price and demand are a constant and, as with all such uncertainties, good planning will help keep options open. While we cannot afford to be complacent, we are in a better position here than some when it comes to self-sufficiency.
As a nation of agile thinkers our No8 wire reputation is much more than just jargon. Instead of taking our ‘can do’ nature for granted, because that’s just what we do, we should be proud of our reputation as a practical mob who gets the job done…more than often exceeding even our own expectations!
Here’s to the season ahead,