As a result of the farmers taking down their spending, New Zealand Agriculture services Companies are suffering a disturbed fall in the stock market. PGG Wrightson Ltd. announced that the earnings failed to meet the experts’ expectations.  PGG Wrightson reported in a statement that the Company’s full-year earnings, of the year ending on the 30th of June, recorded net revenue of NZ$23.3 million, whereas experts predicted the Company’s revenue to reach NZ$24.1 million.  In the same period last year, the Company recorded earnings of NZ$81.1 million, despite the losses and the law suits.

The share value of PGG Wrightson in the stock market dropped by 5.4%, recording 53 cents a share. PGG Wrightson’s Chairman, John Anderson, warned investors that the New Zealand farming sector status is currently unstable, with prospects that it might witness a series of setbacks, provided the farming habits remained the same for the next year.

Despite these warnings and the decline witnessed by PGG Wrightson, New Zealand Farming Systems Uruguay recorded a rise in the share values by 1.8%, subsequent to the Company gaining tax benefits from the Uruguayan Government, covering around US$20 million to US$25 million.