Threat to 600 farmers

Press, 12 November 1985, Page 26

Threat to 600 farmers

PA Wellington The phasing out of SMPs, the stronger New Zealand dollar, and low meat prices would have a far-reaching effect on pastoral farming in New Zealand, the chairman of Crown Corp, Ltd, Sir Roderick Weir, said in his annual report. A recent survey showed that about 600, or 5.5 per cent of farmers financed by stock and

station companies such as Crown, faced the "sorry prospect” of leaving their farms in the year ahead. But Sir Roderick said the 13 companies which made up Crown had a 120-year association with farmers and were well experienced in working through difficult times. “Every effort will be made to ensure that efficient farmers remain able to work their land profitably,” Sir

Roderick said. “However, it is clear that there will be some cases where, with the best will in the world, this may not be possible without a measure of Government assistance.” About half of New Zealand’s farmers had sufficiently low debt levels to enable themto meet the challenge of a difficult year. A quarter had unencumbered properties and their returns would be satisfactory.