Abstract
An improvement in the resilience of New Zealand pastures will have significant economic benefits to the country. The renewal of pastures on-farm is an important aspect of this resilience, which involves a range of costs and benefits. This paper illustrates three aspects of these costs and benefits:(i) That the cost of growing pasture can be substantial, with a combination of direct and indirect costs;(ii) Modelling of an increase in re-grassing level on a representative dairy farm, from 8% to 15% per year, showed a significant Net Present Value and Internal Rate of Return; and(iii) The increase in costs and benefits on-farm, also show a significant multiplier effect on the wider regional economy.
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