Sunday, April 21, 2024

Fertiliser rebate rises to $50/t

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Ballance Agri-Nutrients has increased its annual rebate to farmers and growers to $50 a tonne, a return of $60 million to 17,500 members of the co-operative. In the financial year to May 31, Ballance had total revenue of $897m and sold 1.55m tonnes, including nutrient products, animal feeds and industrial ingredients, both figures steady on performance in the previous year.
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In the two previous financial years the rebate was $45.

Chief executive Mark Wynne said the latest result had been achieved in a year of uncertainty by using clever science and innovation.

The co-op’s task was to help customers adapt to changing consumer demands, environmental requirements and government policies.

Innovation has been a key factor in providing the solutions, with the government agreeing to co-fund Ballance’s $25 million Future Ready Farms programme over five years. 

It consists of 12 projects aimed at helping farmers and growers meet their national environmental targets for reducing greenhouse gas emissions, agrichemical use and nutrient loss to waterways.

Chair Duncan Coull said Ballance had navigated a year of global uncertainty well.

“Through covid-19 disruptions on global freight and severe weather events here in New Zealand, we have worked hard to minimise impacts to customers,” he said.

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