Federated Farmers’ latest survey has recorded record farmer profitability, with only one in 20 farmers not making a profit.

Colin Hurst, Federated Farmers president, says 72% of farmers are now profitable, from 35 surveys run twice a year. The arable sector, however, is still under pressure.

Hurst says the survey was taken in late July, during a Fonterra forecast cut, an Official Cash Rate rise and a 4.2% inflation reading.

Farming makes up 82% of New Zealand’s exports, worth $64 billion.

“It’s that multiplier effect that goes right round the whole community,” he says.

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.

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