Selwyn Times: December 04, 2019
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6 Wednesday <strong>December</strong> 4 <strong>2019</strong><br />
Latest Canterbury news at starnews.co.nz<br />
News<br />
SELWYN TIMES<br />
Businesses to benefit from dairy payout<br />
• By Devon Bolger<br />
A PREDICTED $50 million<br />
dollar dairy payout is likely to<br />
boost the economy of the whole<br />
district.<br />
And <strong>Selwyn</strong> Business Group<br />
chairman Richard Tait said it<br />
won’t just be farmers who benefit<br />
from a good financial season.<br />
“They are generally sensible<br />
with their money but if the payouts<br />
are good and the business<br />
confidence is up, they are typically<br />
happy to spend and share<br />
that.<br />
“When the farmers did well, so<br />
did the whole district,” he said.<br />
The latest Infometrics Quarterly<br />
Economic Monitor report<br />
says the dairy payout in the<br />
district for the <strong>2019</strong>/20 season<br />
is expected to be about $48.4<br />
million higher than last season,<br />
assuming that production levels<br />
from last season are maintained.<br />
The total payout for the season<br />
is expected to be $488 million<br />
compared to $439 million for the<br />
previous season.<br />
The payout is a double dose of<br />
good news for <strong>Selwyn</strong>.<br />
Latest figures show economic<br />
growth in the district surpassed<br />
twice the national average over<br />
the last year.<br />
Gross domestic product in<br />
the district grew by 5.2 per cent,<br />
compared to 2.4 per cent growth<br />
NEW<br />
LOCATION<br />
95 Gasson St<br />
CELEBRATE: Retailers should expect an upswing in sales as it is predicted dairy farmers will earn<br />
$50 million more this season than last. <br />
nationally and 1.9 per cent across<br />
Canterbury.<br />
Leeston’s Crate and Barrel<br />
owner Craig Bradford said the<br />
dairy payout was good news for<br />
everyone.<br />
“When farmers have money,<br />
everyone else has money. It’s a<br />
real farming community out<br />
here. If they’re doing it hard<br />
then everyone’s doing it hard so<br />
hopefully if they put a bit more<br />
money in their pocket then we<br />
can all get some of it,” he said.<br />
Dealer principal of Power<br />
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Farming Canterbury in Rolleston<br />
Geoff McCabe said when<br />
farmers get a larger payout they<br />
do tend to spend more.<br />
“We do see an increase in sales<br />
when the farmers have more<br />
money.<br />
“There are many variables in<br />
our industry but we would hope<br />
to see an upswing in sales as a<br />
result of this payout,” he said.<br />
Fonterra has indicated a<br />
forecasted milk price range for<br />
the season of $6.55 to $7.55 per<br />
kilogram of milk solids.<br />
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South Island head at DairyNZ<br />
Tony Finch said the increase<br />
is positive news for the wider<br />
community, farmers and the<br />
agricultural support sector.<br />
“We know that nearly one in<br />
five <strong>Selwyn</strong> residents works in<br />
the primary sector, with many<br />
more businesses providing<br />
services to the agricultural sector<br />
– for example many of the large<br />
employers in IZONE are agricultural<br />
businesses,” he said.<br />
“When our rural sector is doing<br />
well, the whole community<br />
benefits as this provides more income<br />
to support local businesses<br />
and employees.”<br />
Mr Finch said recent seasons<br />
have been more challenging for<br />
farmers.<br />
“A positive season will allow<br />
investment on farms, will help<br />
fund the cost of meeting new<br />
environmental requirements and<br />
also potentially assist with debt<br />
repayment and cash flow demands.<br />
It will certainly improve<br />
farmer confidence.”<br />
Meanwhile, consumer spending<br />
in the district is up 9.3 per<br />
cent and tourist spending grew<br />
by 8 per cent in the year to September.<br />
The district council issued 312<br />
new residential consents during<br />
the September quarter, up by 18<br />
per cent from the same time last<br />
year.<br />
A further 38 industrial and<br />
commercial consents were issued<br />
over the quarter this year worth<br />
$20.2 million.<br />
Mayor Sam Broughton said:<br />
“These figures back up what<br />
we’re seeing and hearing from<br />
people around <strong>Selwyn</strong>. We’re in<br />
an exciting time as we build on<br />
the good foundations sit by those<br />
who have gone before and build<br />
for those yet to come.”<br />
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