Agri-tech investment – adopt or risk being left behind
Start investing in technology or face become less competitive – that is the message ANZ wants red meat farmers to take on board as technology advances provide new opportunities for the primary sector.
ANZ Commercial & Agri Wairarapa Regional Manager Sean Stafford believes that investment in technology is leading to much better on-farm decisions which are leading to better performing businesses.
“What we are seeing now is the tip of the iceberg, with significant agri-tech advances coming over the next five years,” says Mr Stafford.
“That’s why we encourage all our farming customers to actively explore opportunities or face the prospect of becoming increasingly less competitive.”
Matt and Lynley Wyeth from Spring Valley Enterprises, in Kaituna near Masterton are early adoption of agri-tech - download video here:
ANZ is keen to showcase customers utilising technology in their businesses. A great example is sheep and beef farmers Matt and Lynley Wyeth from Spring Valley Enterprises, in Kaituna near Masterton.
The Wyeths consistently rate in the top 5% of performers in the red meat industry. Mr Wyeth credits this, in part, to their early adoption of agri-tech.
“There is nothing wrong with what my father did. The basic principles of farming still stand true. But it’s how we do it and how we get a better result than what he did,” he says.
“The investment in technology has helped us create a business we can budget for. There are no surprises. Every element of our business is monitored and measured.”
The Wyeths are using a range of technologies on their farm, but data crunching is where they see the biggest savings. They use a farm management system called Farm IQ to pull together all the information collected in the field which traces each individual animal. The data are used to make subtle changes to the overall performance of the farm.
“That information and the ability to measure makes sure we keep on track, or if not, we know what we’ve got to do to get back to hitting our goals.”
ANZ’s Managing Director Commercial & Agri Mark Hiddleston says sheep and beef farmers are raising the standard of farm governance through investment and management, complemented by advances in technology.
“Technology should be seen as an investment into the farming business,” says Mr Hiddleston.
“It is critical to stay ahead of the game for any industry. If they don’t invest in technology they’ll fall behind.
“One of the key roles for us at ANZ is to make sure our customers stay at the forefront of technology advances. That means partnering with them around financing and making the right decisions,” Mark Hiddleston said.