New Zealand's Pāmu reports $26M loss in FY2024 due to lower livestock prices, high interest rates, and Cyclone Gabrielle costs.
New Zealand's Pāmu, a state-owned farming company, reported a $26M loss in the year ended June 2024, down from $9M the previous year. Lower livestock prices, high interest rates, and Cyclone Gabrielle costs contributed to the decline. Despite improved productivity, Pāmu anticipates a further NOP decline for FY2025, but remains committed to doubling NZ's exports value in the next decade.
August 22, 2024
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