One good rain season and farmers have regained their mojo. Earlier this week at the Namibia Genetics Auction, some 92 animals were up for auction, setting record prices with the single most valuable animal, a bull, going for N$157,000.
This auction is the commercial window for 15 stud breeders styling themselves as the Namibia Genetics Auction Group. They conduct two auctions per year, one in May and the other in August. The auctions are held in partnership with Agra Auctions and sponsored by Bank Windhoek.
Chairperson, Rynand Mudge, said the group has established itself as a brand of choice. “Consistent good quality genetics is the secret, and our association with Bank Windhoek ties in with that ethos.”
“The auction went well, with reasonable average prices for the bulls and females of all the breeds. Attendance and the number of buyers who registered were also higher than ever before,” he said.
The average price for bulls was N$67,000 and for heifers and cows N$21,000.
Bank Windhoek’s acting Executive Officer of Retail Banking Services, Leon Koch, said they understand the importance of agriculture and that a future-thinking mindset prioritising sustainability is essential for agriculture.
Koch elaborated that Bank Windhoek has prioritised agriculture in its strategy by launching various products to support agriculture. “We recognise that our customers are the cornerstone of our success, and platforms like the Namibia Genetics Auction reaffirm our commitment to building lasting relationships.”