North Coast

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The sugar cane industry, on which the New South Wales North Coast relies, has been under substantial pressure in recent times, according to the latest rural report from valuation firm Herron Todd White.
This has been driven by low international prices for the commodity, and the purchase of farms for planting macadamia nut trees and tea trees in the region.
Sugar cane farmers have long worked in a co-operative fashion and share harvesting and planting equipment in various well-organised farmer group structures to defray capital and operating costs.
The report found, however, that in more recent times, some farmers, particularly in the Condong Mill Area, have changed farm practices to growing all one year old cane instead of a mix of one and two year old cane.
“Earlier in the season, sugar producing and ratooning varieties and minimum tillage has promoted this practice of growing only one year old sugar cane. The experience of growing only one year sugar cane is higher levels of overall farm production,” the firm said.
“This region is renowned as a prolific beef store weaner producer historically popular with tableland and western graziers.”
“Although many weaners may still be sold to be grown out or finished in the western areas or feed lots, many beef graziers are improving pastures and genetics so that they can sell their product at higher live weights and gain a higher value and return per head.”
For this reason, the report found, there has been limited sales activity in 2020.
Some sugar cane farms in the Condong Mill area are reportedly sold or under contract, and an avocado farm at Fishermans Reach is reportedly under contract.
The full Herron Todd White 'Month-in-Review' for April can be read <a href="https://static.htw.com.au/HTW-month-in-review-April-2020-Rural.pdf" target="_blank">here.</a>
Note regarding COVID-19:
 
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.
 
This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.
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NSW North Coast property stagnates as sugar cane industry hits trouble: HTW rural

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The past 12 months have been challenging for the NSW North Coast with a reduction in rainfall, however it is not as severe as in more western areas, according to property valuation firm Herron Todd White (HTW).
The valuation firm found that water licences, and properties with the capacity to utilise these water licences, are becoming much more sought after.
This is particularly so for intensive horticultural crops, nurseries, tea tree farms and some of the animal industries.
The horticultural buyers typically prefer well drained red basalt soils or well drained sandy loams. 
The reported noted avocado farmers prefer well drained, frost free land with access to water.
Blueberry farmers seek similar land features except for preferring a slightly acidic soil.
Macadamia farmers are not as concerned with supplementary irrigation, but frost free land is a definite preference.
Graziers were disposed towards a balance of flood free land, however creek and river flats were found to be always in demand.
Commodity prices and the current low interest rates are typical drivers of rural land value.
The North Coast has strong lifestyle appeal which impacts in the various locations, HTW noted.
The report noted the high macadamia nut prices compared to low sugar prices, which results in macadamia farmers purchasing sugar cane farms to plant macadamias - an example of the impact of commodity prices in the region. 
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NSW North Coast experiencing more rainfall than out West, but still struggling with drought

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The NSW North Coast is currently dry with cold nights, but has not yet suffered as severely as the more western areas, according to the Herron Todd White rural report.
The valuation firm took a look at the current seasonal conditions in the local area and the impacts on the local property markets.
"In terms of livestock there is still some cattle feed and adequate stock water generally in NSW North Coast.
"The feed gap in this location is traditionally during winter and early spring.
"It is a summer dominant rainfall location and graziers will be eagerly awaiting the late spring and early summer storms," the report stated.
Macadamia growers are mostly located near the coast and will be hoping for rain from September onwards for the flowering period.
Sugar cane growers on the lower peat soils will have just enough moisture to plant sugar cane when the soil temperature rises above 17 degrees Celsius.
The valuers noted "some heavy clay soils may be too dry to plant until some rainfall is received. Harvesting conditions are ideal given the dry conditions. CCS levels are very good for this time of the year with Condong Mill around 12.4, Broadwater Mill around 13.2 and Harwood about 12.9. This reflects the dry conditions and low ash levels (impurities such as soil etc)."
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They concluded that, irrigators who pump from rivers and streams will be getting nervous as almost all of the rivers and creeks relied on are unregulated (do not have a major storage dam) and when water flows, drop pumping restrictions are triggered which limit the water that can be taken.
"This may affect dairy farmers, blueberry growers and other intensive horticultural operations in particular," the report noted.
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NSW North Coast irrigators getting nervous: HTW Rural

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The anecdotal reports are of positive harvest news for those macadamia farmers that did not suffer storm damage earlier in the year, according to the latest report from Herron Todd White (HTW).
The valuation firm said that solid yields and very good kernel recoveries have been noted.
Further, there is a shortage of good quality macadamia farms listed for sale.
The sugar cane harvest has kicked off on all three rivers.
CCS levels are very positive this early in the year at around 11 CCS, stated the report.
It added world sugar prices are very challenging at the moment at around 12.25 cents per pound US, due to a world surplus in stocks.
NSW cane growers are expecting over $30 per tonne at mill average CCS for the 2018 harvest, according to the report.
A sugar cane farm on the Clarence River has recently sold by tender for $1,365,000, including the crop.
The 91 hectare property included a good machinery shed with power connected and indicates a land value of around $13,000 per hectare.
The valuers said "we understand it was purchased by a cane farmer which, in recent times, is not the usual as macadamia farmers have been very active in this market segment".
Cattle grazing properties are continuing to attract strong demand, although recent conditions have been dry and challenging pasture conditions.
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