AUS
NZ
UK
CA
USA
IND
Highlights
- In order to meet its climate change policies, the NZ Govt is focusing on reducing agricultural methane releases, which is a major source of emission.
- Seeka secures additional funding facilities to support its growth objectives.
- Allied Farmers to organise a virtual Annual Meeting of Shareholders towards the month-end.
In a recently concluded international leaders’ meet in Glasgow, New Zealand along with 90 other nations came together to commit methane emission reduction in the next 10 years.
The signatories pledged to cut greenhouse gases by 30% towards the end of the decade.
In this regard, James Shaw, NZ’s Climate Change Minister, assured that the NZ Government would not set any further commitments on methane policies.
3 NZX agriculture stocks to focus on before 2021 ends
He stated that the nation was on track as per its Zero Carbon Act, which has outlined to curtail methane emissions to 10% by 2030 and in a range of 24%- 47% by 2050. To achieve these targets, the reduction of agricultural methane emissions is the prime concern.
With this backdrop, let’s explore the three NZX agriculture stocks for the remaining months of 2021.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- EODHD/Others
Seeka Limited (NZX:SEK)
First on the list is Seeka Limited, which derives revenue from its orchards and packhouses. On Monday, the Company revealed securing additional funding facilities through a consortium of banks - BNZ, Rabobank, and ASB.
Related Read: Seeka (NZX:SEK) clears its first hurdle towards Orangewood amalgamation
The said facilities which amount to NZD$190 million were sought to support SEK’s continued growth and business operations.
On 9 November, Seeka climbed 0.57% at NZ$5.300, at the time of writing.
Scales Corporation Limited (NZX:SCL)
Coming up next is Scales Corporation Limited, a diversified agribusiness group. Recently, the Company announced new Chief Operations and Sustainability Officer, Geoff Smith.
Having vast experience across a variety of agribusinesses, Smith would join SCL in January 2022.
Shares of Scales Corporation were up by 0.18% at NZ$5.48, at the time of writing, on 9 November.
Also Read: Which are 5 NZX stocks with the highest monthly returns?
Allied Farmers Limited (NZX:ALF)
Last on the list is Allied Farmers Limited, which functions as a rural services and finance company. On 24 November, it has scheduled its online ASM.
Related Read: Which are the 5 most sought-after NZX listed agriculture stocks?
If deemed fit by its shareholders, ALF intends to pass resolutions related to the election of directors as well as the re-appointment of KPMG as its auditor.
At the time of writing, Allied Farmers was trading down by 1.27% at NZ$0.780, on 9 November.
Bottom Line
The NZ government is concentrating on its agriculture sector for a systematic reduction in methane emission so as to make its land sustainable, cleaner, and greener for the present as well as future generations.