Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Beef + Lamb New Zealand Welcomes Government Support For PGP


29 January 2013

Beef + Lamb New Zealand Welcomes Government Support For PGP Programme

Beef + Lamb New Zealand Chairman, Mike Petersen has welcomed the announcement by Wayne McNee, Director-General of the Ministry for Primary Industries (MPI), of the Ministry’s commitment of up to $32.4 million from the Primary Growth Partnership Fund (PGP) for the red meat sector’s proposed $65 million, seven year, Collaboration for Sustainable Growth programme.

“This will be a huge boost for the sector and will accelerate progress in an increasingly collaborative approach across a range of issues that are important for sheep and beef farmers,” Mr Petersen said.

The Collaboration programme involves industry participants AFFCO, Alliance Group Ltd, ANZCO Foods, ANZ Bank, Beef + Lamb New Zealand, Blue Sky Meats, Deloitte, Progressive Meats, Rabobank and Silver Fern Farms, who following approval and contracting processes will match MPI’s investment and establish a joint venture entity to undertake the programme. The programme is open to new investors who can join once the programme starts.

Following approval and a commitment to co-fund the programme by MPI, farmers will now be asked to vote to support the farmer contribution for the programme through Beef + Lamb New Zealand. This will total up to $2.8 million per annum over seven years or a total of $19.7 million. Farmers will be asked to contribute approximately 30% of the total programme investment. With the other 70% coming from government and industry participants, the vote by farmers to be undertaken alongside the Beef + Lamb New Zealand Annual Meeting on the 8th March will enable the programme to progress.

“Beef + Lamb New Zealand has been working increasingly closely with meat processors in recent years through our joint venture market development programmes and collectively with processors and exporters via the Meat Industry Association (MIA). This opportunity extends that approach to supporting farmers behind the farm gate to help improve productivity and profitability. That’s very exciting and supports the tighter linkage and better communication across the farm gate that the sector has been looking for.

“The Collaboration programme also directly addresses a number of the issues highlighted in the Red Meat Sector Strategy that was developed by Beef + Lamb New Zealand, the MIA and government in 2011. Success in this programme will help farmers to unlock the opportunities identified behind the farm gate for better profitability.”

As well as strongly involving processors, the programme also builds on new relationships with banks such as ANZ and Rabobank and with the professional services firm Deloitte, to support the farm business as well as our traditional work in farm management,” Mr Petersen said.

Beef + Lamb New Zealand will be seeking farmer support over the coming weeks to invest the funds from a combination of New Zealand Meat Board Reserves, Beef + Lamb New Zealand Reserves and levy funds. Whilst New Zealand Meat Board approval and support is also required through a prescribed NZMB process, no levy increase will be required to support the programme. Significant New Zealand Meat Board reserves levels would still be retained in accordance with its policy of a contingency fund to support market recovery in the event of a significant biosecurity issue that disrupted New Zealand meat exports.

Voting materials to support farmer investment in this collaboration programme will be mailed to farmers with B+LNZ annual meeting information in early February, with the vote closing at the Beef + Lamb New Zealand Annual Meeting on 8th March. Information sessions will be held in each Beef + Lamb New Zealand region during February.


About Beef + Lamb New Zealand:
Beef + Lamb New Zealand Ltd is the farmer owned industry organisation representing New Zealand’s sheep and beef farmers. Beef + Lamb New Zealand Ltd invests farmer levies to help develop a growing sheep and beef industry providing sustainable returns for future generations. Beef + Lamb New Zealand has four programmes – Farm, Market, People and Information – to deliver innovative tools and services to support informed decision making, and continuous improvement in market access, product positioning and farming systems for New Zealand’s sheep and beef sector.

website www.beeflambnz.com

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

The Future: Thirty Year Infrastructure Plan Released

The Thirty Year New Zealand Infrastructure Plan 2015 sets out New Zealand’s response to the infrastructure challenges we will face over the next three decades, Finance Minister Bill English says. More>>

ALSO:

Shopping: Online GST Discussion Document

GST: Cross-border services, intangibles and goods contains proposals to require overseas suppliers to register and return GST when they sell services (including online products such as e-books, music and videos) to New Zealand consumers. It also outlines the way forward for improving the collection of GST on all goods, including low-value imported goods. More>>

ALSO:

Keith Rankin: Auckland Slowdown?

Has the Auckland housing market turned? I went to a neighbourhood auction yesterday. Solid large 1950s' house on 1,000 square metres of land, sunny section, view over city from front of house, handy to train and to the expanding New Lynn retail and commercial hub. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news