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

 


ANZ backs red meat industry development initiative

4 February 2013

ANZ backs red meat industry development initiative

New Zealand’s red meat industry risks oblivion in the coming decades unless it adopts its recently proposed $65 million development programme, says the country’s biggest banker of the agricultural sector.

ANZ said today that the red meat industry development initiative was critical to the sector’s survival.

“The danger we face is that we are not alone in seeking to exploit the international market for red meat,” said Graham Turley, ANZ’s Managing Director Commercial and Agri.

“If we are serious about wanting to develop vibrant, globally dominant and highly profitable agricultural industries, we will need all stakeholders in the industry to work together to bring about change.

“If we don’t get our act together other countries will pass us in a matter of decades.”

The initiative announced last week will position New Zealand farmers, processors and exporters to take full advantage of growing global demand for beef and sheep meat. ANZ is one of the major private sector partners in the red meat sector’s new Collaboration for Sustainable Growth programme.

Under the programme the red meat industry has agreed to work closer together to adopt best practices on sheep and beef farms, develop technical and business skills across the industry, and provide tools and services to improve farm efficiency.

“ANZ is delighted to be part of an initiative that will help the red meat sector take advantage of rising demand for New Zealand beef and sheep meat, particularly in the growth economies of Asia.

“The meat industry has played a major role in the New Zealand economy since our bank funded the first shipment of frozen meat to Britain in 1882. While the red meat sector is an important part of the economy, it is still performing below its potential and this strategy can contribute to realising the great opportunities which exist.”

A recent report by ANZ found that New Zealand has the potential to capture $1.3 trillion more in agricultural exports between now and 2050 if targeted actions are taken and the red meat sector can play a major part in realising this potential.

“Our agricultural sectors need more investment to drive production growth and to support farm turnover,” Mr Turley said.

The full ANZ Insight report is available at www.anz.com/insight

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news