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NZ Herald
15 hours ago
- Business
- NZ Herald
Agribusiness and Trade: NZ agriculture enjoying blockbuster comeback
Beef: Steering Strong Demand New Zealand's beef sector has enjoyed a standout year, underpinned by resurgent global demand and premium positioning in key export markets. Farmgate prices have surged to levels 35–45% above the five-year average, reflecting strong international appetite for sustainably produced, grass-fed meat. Tariff noise aside, the United States, in particular, has ramped up imports, with New Zealand significantly increasing its share of US beef supply. China and Japan have also shown renewed interest in lean beef cuts, creating diversified market opportunities. On-farm, producers have responded by focusing on efficiency and quality — optimising genetics, refining finishing systems, and improving pasture resilience. With export volumes rebounding to pre-Covid levels and market fundamentals remaining favourable, the beef sector is well-positioned to maintain momentum into 2026. Kiwifruit: Back to Gold Standard After two challenging seasons marked by labour constraints and weather volatility, New Zealand's kiwifruit sector has bounced back with renewed strength and clarity of purpose. Export volumes have recovered, particularly for SunGold varieties, with Zespri forecasting a record crop and export returns surging toward $4 billion — a major driver behind horticulture's overall 19% growth in primary sector exports this year. Improved orchard management, better fruit quality, and more reliable post-harvest performance have been central to this turnaround. Growers are reinvesting confidently, expanding canopy, adopting precision horticulture tools, and upgrading packhouse automation to lift productivity. We have seen and supported increased lending for orchard development finance, seasonal working capital, and long-term investment solutions aligned to land-use ambitions and succession planning. With strong offshore demand from Asia and Europe, and a renewed focus on quality over volume, the kiwifruit sector is once again leading New Zealand horticulture into a prosperous future. Currency & Costs: A Delicate Balance While global uncertainty continues to influence input costs, New Zealand's exporters are benefiting from a favourable exchange rate environment. A weaker New Zealand dollar — trading persistently below US$0.61—has bolstered export competitiveness, lifting farmgate returns across dairy, beef, and horticulture. For many producers, this currency tailwind has helped offset rising costs for key inputs like fuel, fertiliser, and imported machinery. Fertiliser costs have edged higher, with urea prices up 18% and phosphate up 12% year-on-year, driven by international supply constraints and energy prices. However, improved commodity pricing and production scale have largely preserved on-farm margins. At the same time, interest rates are showing signs of continued easing. With the Reserve Bank's gradual loosening of the Official Cash Rate expected into 2026, debt servicing pressure is beginning to ease, improving cashflow certainty for agribusinesses. For many farming operations, the current balance of strong commodity pricing and improving financial conditions represents a window of opportunity to reinvest, restructure, or build resilience ahead of future volatility. Market Sentiment: Confidence Returns to the Paddock After several years of volatility, confidence is returning across New Zealand's rural sector. Farmers and growers are feeling the uplift from stronger returns, a more stable policy environment, and improved seasonal conditions. According to the latest Tracta AgriPulse survey, overall sentiment has turned positive for the first time in two years, with producers citing better payout forecasts, manageable input costs, and stronger support from their banks and industry bodies. This renewed optimism is translating into action: farm development plans including genuine expansion are being reactivated, equipment upgrades are back on the table, and more businesses are engaging in succession conversations. There is also a growing appetite for innovation, with increased investment in digital tools and on-farm data systems. We are seeing this momentum firsthand. Demand for tailored agribusiness lending is rising, and our regional teams are busier than ever helping clients build forward-looking financial strategies. With confidence returning and commodity markets holding firm, New Zealand's rural communities are shifting from cautious survival to confident growth. At BNZ we particularly understand the importance of supporting first farm and herd buyers make the leap from employees to owners. It's an exciting time, as anyone who's gone through it themselves will know, and we see a role here for BNZ to connect new owners with seasoned farmers to help set them up for success. Risks Ahead: Navigating Headwinds in 2025–26 While the outlook for New Zealand agriculture is positive, a few key risks warrant close attention over the coming year. Climate variability remains front of mind, with recent weather patterns highlighting the growing unpredictability of rainfall and temperature across regions. Although La Nina has eased, a shift to more neutral or El Nino-like conditions could bring moisture stress to eastern areas and impact pasture and crop performance. Input cost volatility is also a watchpoint. While commodity returns are strong, global fertiliser and fuel markets remain exposed to geopolitical disruptions, and any sharp movements could squeeze margins — particularly for intensive operations. There are also geopolitical and trade uncertainties to monitor. Changes in global demand, regulatory settings in key markets like China and the US or shifts in trade access could impact export flows. Domestically, evolving expectations around climate and freshwater regulation, as well as emissions pricing, could create compliance and investment pressure, particularly for those not already aligned with industry assurance schemes. But while these risks are real, they are also manageable. Farmers are resilient and have a long and proven history of adapting to change. They are also well capitalised and increasingly supported by sophisticated tools, data, and finance. We understand that a key part of managing risks is partnering with a bank that understands farmers' goals and the strategies they have in place to achieve them. One of the things that sets BNZ's agribusiness offering apart is that our agribankers are the decision-makers. The banker sitting at your kitchen table is often the person who's able to approve your loan. This means that you get a decision on the spot - and the certainty that comes with it. Looking Ahead: A Confident Path Forward New Zealand's agricultural sector enters the next 12 months with real momentum — and a growing sense of purpose. Global demand for safe, high-quality, sustainably produced food is intensifying, and New Zealand remains well placed to deliver it. Our pasture-based systems, strong biosecurity, and trusted provenance continue to command premium positioning across key export markets. BNZ sees this shift every day. We are working with customers who are building future-focused businesses — diversifying revenue streams, embracing on-farm assurance programmes, and planning succession with confidence. With strong commodity prices, improving financial conditions, and a renewed focus on long-term sustainability, the sector has the opportunity to grow both value and resilience. The road ahead won't be without bumps — but with clear direction, deep capability, and a trusted banking partner, New Zealand agriculture is set to thrive in a world that increasingly values exactly what we do best. BNZ is an advertising sponsor of the Herald's Agribusiness and Trade report.
Tatler Asia
a day ago
- Business
- Tatler Asia
Delta to resume non-stop service between LAX and Hong Kong in 2026
Delta is bringing back nonstop LAX–Hong Kong flights in 2026, re-entering a highly competitive trans-Pacific route After an eight-year hiatus, Delta Air Lines is gearing up to resume non-stop flights to Hong Kong, marking a major expansion of its Pacific strategy. Beginning June 2026, Delta will operate daily flights between Los Angeles International Airport (LAX) and Hong Kong International Airport (HKG) aboard its flagship Airbus A350‑900 aircraft. Read more: Airline rules for power banks—what you need to know Delta last offered direct service to Hong Kong in 2018 from its Seattle hub—a route it discontinued amid challenging market dynamics. It also previously flew from Detroit to Hong Kong until 2012 and briefly between Tokyo-Narita and Hong Kong until 2016. The carrier has clarified that this new run will originate from LAX, not Seattle. Delta's decision comes as trans-Pacific travel continues to rebound. According to the US International Trade Administration, international passenger traffic between the US and Asia reached 2.61 million in December 2024—an 11.7 per cent year-on-year increase, though still about 22 per cent below pre-pandemic levels in 2019. Industry-wide, Asia-Pacific carriers saw the strongest global recovery in 2024. Data from the International Air Transport Association (IATA) shows international traffic by Asia-Pacific airlines rose 26 per cent year-on-year—leading all regions—but remained about 9 per cent shy of 2019 volumes. See also: 7 ways to minimise your carbon footprint for sustainable travel that doesn't feel like a compromise Hong Kong International Airport (HKIA) also continues its recovery. In 2024, it handled approximately 53 million passengers, up 34 per cent from 2023 but still trailing its 2019 peak of 71.5 million. It ranked as the ninth-busiest airport globally for international traffic last year, underscoring its role as a major Asian hub regaining its footing after extended pandemic-related closures. With demand steadily rising and airlines reintroducing capacity, analysts expect US–Asia air travel to return to near pre-Covid levels by 2026—just in time for Delta's relaunch.
Tom's Guide
2 days ago
- Entertainment
- Tom's Guide
Forget 'Superman' — 'Wonder Woman' lassos 'Supergirl' screenwriter to pen 'Wonder Woman' reboot for DC studios
With James Gunn's "Superman" dominating at the box office, all eyes are on what the revamped DCU has next. Now, DC Studios has hired playwright, actress, and "Supergirl" screenwriter Ana Nogueira to write its new redo of "Wonder Woman," The Wrap reports. The news comes as "Superman" soars past $409 million at the global box office in just two weekends, the kind of blockbuster success comic book movies haven't seen at the box office since pre-Covid days. Nogueira, who previously starred in "The Michael J. Fox Show," "The Vampire Diaries" and "Hightown," is quickly becoming one of DC's go-to hitters. She's also reportedly set to write a live-action take of Teen Titans for the Gunn- and Peter Safran-run Warner Bros label. "Supergirl," which debuts in theaters on June 26, 2026, will be her first produced screenplay, and it's being adapted from the graphic novel 'Supergirl: Woman of Tomorrow.' Wonder Woman's place in the new DCU (Image credit: Warner Bros. Discovery) Rebooting Wonder Woman has emerged as a top priority for the studio. Earlier this month, Variety reported that DC is fast-tracking the film, and Gunn told Entertainment Weekly in June that a new "Wonder Woman" movie is "being written right now." DC Studios is also reportedly working on a "Paradise Island" TV series for HBO set on Wonder Woman's home of Themyscira. Gal Gadot first brought the Princess of Themyscira to the big screen in director Patty Jenkins' 2017 film "Wonder Woman," which earned $822 million worldwide and challenged industry assumptions that female-led superhero movies didn't have as much pull among audiences as their male counterparts. Gadot and Jenkins reunited for "Wonder Woman 1984," which premiered on Christmas Day in 2020 during the height of the pandemic. Gadot also revised her role in "Justice League" (2017), "Zack Snyder's Justice League" (2021), and "The Flash" (2023). It's not clear what role Wonder Woman will play now that Gunn and Safran have rebooted the DC universe. Nogueira could take the character in a bold new direction, but that could prove risky considering the original "Wonder Woman" was one of the most beloved movies of the previous franchise. Sign up to get the BEST of Tom's Guide direct to your inbox. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors For now, we'll have to wait to learn more about Wonder Woman's future on the big screen. It's possible we could see her cameo in "Supergirl" when it hits theaters next year, similar to how Supergirl actress Milly Alcock appeared at the end of "Superman" to tease the DCU's next chapter. Follow Tom's Guide on Google News to get our up-to-date news, how-tos, and reviews in your feeds. Make sure to click the Follow button.
NZ Herald
3 days ago
- Business
- NZ Herald
Hardship forces Kiwis to withdraw $470 million from KiwiSaver in 12 months
'That trend really started a couple of years ago, so we've been seeing that since early 2023. And that really coincides with that period of economic hardship. 'Initially it was about cost of living, when inflation rose very sharply… then of course the recession - when we've seen quite a big set of job losses and that wider hardship. '[Hardships] used to be under about 2000 a month and we've been closer to 4500 a month in the last little while, so [that] gives you a sense of just how much hardship there is.' Eaqub said redundancies were the biggest driver of hardship in the past year. 'There's a bunch of reasons, but really it's about that big increase in job losses over the course of the last couple of years. 'While the overall rate of inflation has slowed, the cost of living is still really high. So, what we've seen is the rate of growth… costs are not increasing as fast as before but they're still very expensive. Particularly for things like food. 'Food prices are up around 4.5% [in the last year], people's incomes are not rising that fast.' Eaqub called it a 'double whammy'. 'When the economic conditions are weak, it tends to affect people in more than one way. 'It's around 0.3% of all KiwiSaver members. So, it's gone up a lot since the pre-Covid years when it was 0.2%. 'It's a small number of people who are experiencing a lot of hardship.' He said the average amount withdrawn is about $9000. '[People] are taking out what they can to cover their outstanding debts and making sure they've got money left over,' Eaqub said. Eaqub said this can have implications on retirement savings later in life. 'I guess it's choosing between financial hardship today versus financial hardship potentially later. And that's the trade-off that you have to make. 'If you're in hardship today, then it is no good saying that in 20 or 30 years time I'm going to have a better retirement if you're living in poverty today. 'Quite often we're talking about people who have relatively small balances.' Those contributing to KiwiSaver were also better insulated for when hardship hits. 'Quite often the people who don't [contribute] are on low incomes. And for them they are missing out on the employee contributions, the Government contribution. 'Those people who have been contributing to KiwiSaver are better off in the sense that, at least they have these pre-cautionary savings and they've saved a lot more income they might have otherwise had. 'So, they may not have more money in retirement but they will at least have more money in hardship today.' Cameron Smith is an Auckland-based business reporter. He joined the Herald in 2015 and has covered business and sports. He reports on topics such as retail, small business, the workplace and macroeconomics.
The Herald Scotland
5 days ago
- Business
- The Herald Scotland
Don't let summer heat fool you - energy debt is a year-round problem
Spiralling energy costs have led to a surge of energy debt in Scotland. The numbers are stark. Our most recent figures, covering the first three months of 2025, showed that more than 1,500 people turned to a CAB for advice on energy debt. There has been an alarming rise in demand for debt advice from our network. Compared to pre-Covid times, there has been a 65% increase in the number of people seeking energy debt advice from CABs. The volume of people needing help with energy debt is worrying, and so is the amount of debt they have been forced to accumulate. The average energy debt people present to CAB is £2,500. Bear in mind that many people also have other types of debt, such as council tax debt and rent arrears. Unaffordable energy bills, mounting housing costs and the undermining of the social safety net have combined to make it much harder for people to afford life's essentials. Consider the financial and emotional strain of living with debt. Amanda visited her local Citizens Advice Bureau seeking help with debt. She works on a zero-hours contract in the healthcare sector, which makes it difficult for her to maintain a stable income. Over time, she accumulated more than £3,200 of energy debt. Mark also turned to his CAB for support. He is a self-employed gardener whose income fluctuates throughout the year, and he now faces an energy debt of over £6,300. The situations that brought Amanda and Mark to this point are alarmingly common. They are ordinary people with unpredictable incomes, simply trying to manage their everyday expenses. Energy debt can happen to anyone. It would be easy to conclude that there is nothing we can do to stop people from being forced into energy debt because the scale of the challenge seems too big to overcome. That position is a counsel of despair. There are solutions available. For their part, energy suppliers need a more consistent approach to helping people who are struggling to pay their bills. We need a social tariff in the energy market, which would provide people on low incomes with discounted energy bills. An energy debt relief scheme is another urgent priority. By taking decisive actions like these, suppliers, the UK Government, and the regulator Ofgem can reduce bills and save people from energy debt. It's high time these choices were made. Dr Matthew Lee is part of the Social Justice team at Citizens Advice Scotland
