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

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news