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Farmers worried about the global market

NZ NewswireNZ Newswire 26/07/2016

Farmer confidence has picked up slightly since January but remains weak, Federated Farmers says.

Its July survey, released on Wednesday, shows the strength of the global economy is weighing heavily on their minds.

However, it was conducted immediately after the UK's Brexit decision and Federated Farmers' president William Rolleston says that seemed to dampen confidence in the international market.

"Not surprisingly, 37.8 per cent of respondents told us commodity and farmgate prices were their biggest single concern," he said.

Other major areas of concern were regulation and compliance costs, health and safety requirements and resource management issues.

Future spending intentions remained negative, and have barely budged since the January survey.

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