Three new sponsors join trust

08-09-2010 | Not Specified

Three new sponsors have joined the Pasture Renewal Charitable Trust (PRCT) for a two-year term, trust chairman Murray Willocks has announced.

Those joining up are Dow Agrosciences, DuPont NZ Ltd and Ravensdown Fertiliser Co-operative.

Willocks said this renewed commitment signalled positive progress in the nationwide campaign to promote the benefits of increased rates of pasture renewal to farmers which began in 2007.

"The message that pasture is worth over $20 billion (12% of total GDP) annually to the New Zealand economy has caught the attention of key players in the agribusiness industry," he said. "We want farmers to make the best of this opportunity to capitalise on the increased profitability possible from more frequent pasture renewal.

"In terms of readily accessible economic growth, we can look to investment in pasture as a key contributor, as shown in the Business and Economic Research Ltd (BERL) report which undertook the first economic analysis of the value of pasture. It presents a compelling argument for increased investment in pasture renewal with an extra $1.6 billion a year into farmers' incomes."

Fourteen agribusiness companies are now trust sponsors and Willocks said considerable leverage had been gained by the parties working co-operatively to run this campaign.

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