Heard on the news that the payout is on the 20th of each month and this final payout will be made on Dec 20th!! Should be good for the Xmas sales.
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Heard on the news that the payout is on the 20th of each month and this final payout will be made on Dec 20th!! Should be good for the Xmas sales.
I see a few articles out and about re Natural Dairy Holdings Ltd.
Heres an article today...who thinks the sale will go through?
http://www.stuff.co.nz/business/farm...uyers-outraged
Personally, I'd rather it didnt. Although, dairy farm values seem relatively overvalued and nothing wrong with the Chinese taking a hit.
There appears to be a bit of a mistake in the figures?
'The sale represents 0.003% of NZ dairy cattle in NZ.'
Lets have a look at this, and assume that this is the average dairy farm in NZ...therefore, the sale would represent around 0.003% of NZ's total dairy farm value.
The sale is around $200 million...therefore, does NZ have $6.6 trillion dollars worth of dairy farms in NZ (~40 x NZ's GDP)? Calc = (1/0.003)x100x$200,000,000
We most certainly dont!!
I suspect this article is a little misleading (either that, or they believed everything MR CHIN said). Its probably out by a factor of 10/100 who knows...even still, misleading. Statistics are what makes articles relevant, and this certainly doesnt portray a relevant story.
Fonterra and other NZ entities have dairy farm interest in China and other parts of the world, so what reasons can we give the Chinese that they cant buy the farms in NZ? Abit hypocritical of us.
I think you have mis read the information.
0.003% of cattle, not value.
Crafer also owned 22 farms, with 20k cows.
The purchase is only for 16 of those farms, so say that was 15k cattle, means that they are estimating 5m cattle in NZ? Does this seem more accurate?
I know what the information said.
I'm saying, assume these are average size dairy farms then they will be approximately equal to 0.003% of the farm value in NZ?
I didnt know the number of cows crafar had, so this makes it easier:
According to Chin, we have 500 million cows. Same calc: 1/.003*100*15000 = 500,000,000
So this confirms, their data is out by a factor of 100. (Approx 5 million cows in NZ).
The sale represents 0.3% of NZ farms...which is relatively significant, IMO.
why are they even being sold....the government provided a guarantee to the banks to enable them to raise funds offshore and continue business...why doesn't the same governement provide a guarantee to the existing crafars farms lenders, install managers and press on with operating the farms...alternatively it could turn the lot of them into a training institute of sorts and train young would be farmers up on the skills needed...are we not supposed to be supporting NZ industry and enterprise.?
there is plenty of folk out of work...someone i know had a job interview yesterday for a part time administration job offering 9 hours employment per week. There are 250 applicants.!!
The banks got looked after..how about NZ industry??
The government already owns a big farm manager, LandCorp but why should it buy these farms?
They are marginal dairy farms for the most part, we aren't selling Matamata or Hawea here! My bet would be the Chinese learn a hard lesson on this one and exit New Zealand after losing their shirts. They seem to have no farming experience or even any backing, they are simply selling a dream to Hong Kong shareholders. Or put another way, would GPG or maybe Fay Richwhite have made NZFSU better or worse than PGW?!?
Personally I liked Chris Lee's idea of SCF folding dairy holdings into the Crafar farms and listing at least part of it on the stock exchange. NZFSNZ anyone?