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Latest Survey Results: June Quarter 2022

  • New Zealand farmer confidence dropped significantly in the last quarter and is now at its lowest level since the beginning of the Covid-19 pandemic.
  • Rising farm input costs were the major driver of lower farmer sentiment, with nearly two-thirds of farmers with a negative outlook citing this as key reason for pessimism. Farmers were also concerned about government policy, rising interest rates and overseas markets.
  • Farmers’ expectations for their own farm business performance were down across all sector groups, with dairy farmers recording the largest drop in confidence.
  • Investment intentions across the agricultural sectors were marginally lower, with horticultural growers now holding the strongest investment intent.