Some observations from the RFF FY19 webinar:
- RFF will not comment the Bonitas document any more, the issue is now concluded.
- Macadamias orchard (Cygnet, 60ha) acquisition near Bundaberg. Mentioned as an aside, only $1.6m cost, 1km from an existing RFF orchard.
- Bryant mentioned Macadamias are still a minuscule crop globally; upside potential. But also mentioned the Chinese have been aggressively increasing their Macadamia growing.
- Other tree nuts consumption increased two-fold in a decade, RFF sees the same trend to continue. Bryant also mentioned that some of the recently purchased cattle properties could also be suitable for tree nut growing (macadamias), thereby potentially increasing value and income
- Bryant sees cattle growing interest to continue, mentioned the lessees (breeders/growers) see to that standards and guidelines in growing are adhered to
- Mentioned the RFP (Poultry) has had 16 years of profitable operation, said it is not end of the poultry business (RFP) to have one year of loss
- Mayneland (cotton) has produced a record crop this year
- I missed this part so not sure, but Bryant mentioned no more water acquisitions planned?
- In addition to Beef City feedlot (to settle Aug19, $12.7m) and Riverina Beef feedlot (Dec19, $11.3m), did not rule out further acquisitions within the debt facility or even an equity raising if required.
- Interest rate hedging to continue according to their policy.
I may have missed or misheard, so please correct & add your thoughts.
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