Rabobank supports red meat sector collaboration program
Media Release February 1, 2013
Rabobank supports red meat sector collaboration program for greater farmer profitability
Agricultural banking specialist Rabobank has welcomed the newly-announced red meat sector collaboration between industry and government to enhance the long-term profitability of New Zealand’s beef and lamb industries.
Rabobank New Zealand CEO Ben Russell said the bank was pleased to confirm its support as a participant in the proposed program. Rabobank notes the program is reliant on the forthcoming vote by farmers on Beef and Lamb New Zealand’s contribution.
The New Zealand Red Meat Sector Primary Growth Partnership (PGP) Collaboration for Sustainable Growth Program for the beef and lamb industries is a commitment by government, Beef and Lamb New Zealand and a range of industry participants in the long-term enhancement of sector profitability and sustainability.
The $65 million sector development program, which is being co-funded by the New Zealand government, will run for seven years.
“Rabobank is very pleased to play its part in this very important initiative for New Zealand agriculture,” Mr Russell said. “The meat sector will only grow in the long term if farmers are profitable and competitive in the tough environment of the global animal protein sector. While good seasons and high prices are obviously important, so too is the adoption of new technology and the continued development of skills and capability across the industry.”
Mr Russell said Rabobank’s support of the planned Red Meat PGP Collaboration aligned well with the bank’s food and agribusiness focus and its cooperative and sustainable values.
“The program will complement other Rabobank initiatives designed to develop and promote excellence in the agricultural sector. These include our Food & Agribusiness Research and Advisory unit, as well as the bank’s Executive Development Program and Farm Management Program educational courses for farmers and our succession planning services,” he said.
Mr Russell said it was pleasing to see collaboration between government, industry bodies and individual commercial enterprises in the long-term competitiveness of New Zealand’s red meat sector.
“Farmer involvement throughout the development and implementation of the program will be important to its long-term success,” he said.
Rabobank New Zealand is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 110 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank is structured as a cooperative and operates in 47 countries, servicing the needs of approximately 10 million clients worldwide through a network of more than 1600 offices and branches. Rabobank New Zealand is one of the country's leading rural lenders and a significant provider of business and corporate banking and financial services to the New Zealand food and agribusiness sector. The bank has 32 branches throughout New Zealand.