The Ravensdown fertilizer plant outside Napier. Photo / File
The Ravensdown fertilizer plant outside Napier. Photo / File
More than 500 farmers around Hawke's bay have been given an indication of how much they should get back from farming co-op Ravensdown.
The co-operative this week announced an early interim rebate of $17.50 cash per tonne of eligible fertiliser to help farmers as they organise their applications into theautumn.
Chairman John Henderson said the rebate demonstrated Ravensdown's strong performance over the past four years and supported the board's strategy of returning surplus cash to farmers at the earliest opportunity.
Henderson said the commitment for a cash injection also had spin-off benefits to the wider rural community.
"Following last year's wet autumn that disrupted many customers applying their fertiliser, I'd urge my fellow farmers to book their applications early. This is particularly important for aerial spreading operations because demand for their services is currently very strong."
There were a total of 564 customers in Hawke's Bay who bought solid fertiliser from Ravensdown and qualified for a cash rebate of $17.50 per tonne.
The payment into bank accounts takes place in June. This is an early interim payment.
The decision around any final additional payment would take place after the financial year's accounts had been completed and would factor in the board's view of what funds need to be retained to invest in service-enhancing technology infrastructure and environmental mitigations.
"Good buying, consistent team effort and strong shareholder support enabled the co-operative to make this positive move", chief executive Greg Campbell said.
"New customers are joining the ranks and are showing plenty of interest in how we can help them improve their nutrient efficiency and reduce their environmental impacts.
"Together with our shareholders, we believe in smarter farming for a better New Zealand. Giving farmers more certainty around their finances and nutrient choices is just one example of how we can help."
