According to Rabobank, a rural lending specialist, New Zealand agriculture is in for some tribulations in the coming years. In their Agricultural Outlook, Rabobank noted New Zealands growth in agriculture as the globe turned to free trade but with nations like the United States looking inward, they worry about the future.
Rabobank's country banking general manager, Hayley Moynihan, said 2017 would usher in a period of considerable change and uncertainty for New Zealand agriculture with developments throughout the year likely to have a significant impact on the sector's prospects.
"The industry will be keeping a close watch on global trade developments in 2017 following Donald Trump's election in the US and the resulting breakdown of the Trans Pacific Partnership (TPP) agreement,"
"The industry will be keeping a close watch on global trade developments in 2017 following Donald Trump's election in the US and the resulting breakdown of the Trans Pacific Partnership (TPP) agreement,"
"The breakdown of this agreement brings with it increased risk of an escalation to rising protectionism already evident through the last few years in many parts of the world, as well as increasing the importance of this year's trade negotiations with China - on an improved Free Trade Agreement (FTA) - and with the United Kingdom and the European Union on FTAs," she said.
source: nzherald.co.nz
