New Zealand farmer confidence in the agricultural economy has risen for the second consecutive quarter and is now at its highest level since 2013, the latest Rabobank Rural Confidence Survey has shown.
Almost half of all farmers surveyed were expecting the rural economy to improve in the coming 12 months, resulting in overall net confidence shooting up to a reading of +35 per cent from +3 per cent last survey.
The survey found the number of farmers expecting the rural economy to improve had risen to 48 per cent (up from 25 per cent last quarter), 37 per cent were expecting it to remain the same (down from 52 per cent), while only 13 per cent were expecting the agricultural economy to worsen (down from 22 per cent).