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

 


Red meat risks being bit player in economic revival

5 July 2013

Red meat risks being bit player in economic revival

One of the historical foundation stones of the New Zealand economy, the beef and lamb industry, is at risk of being an insignificant player in the country’s economic recovery, says the country’s biggest rural lender ANZ Bank.

“The soft commodity outlook is improving. The food and beverage sector is thriving. Businesses which develop NZ primary production into desirable products are the new stars of the economy. Among all this, beef and lamb – the red meat sector - is stuck in its ways and won’t benefit unless bold action is taken,” said Graham Turley, ANZ’s Managing Director Commercial & Agri.

He said the third annual Red Meat Sector Conference, which starts on Sunday, came at a critical moment in the industry’s history.

“Beef and lamb exports have been an important foundation stone in New Zealand’s economic development. But the fractured nature of the industry, with its poor planning, means it’s now at risk of missing out in the country’s economic recovery.

“The dairy industry has done really well in recent years as a result of investments across the whole supply chain and the red meat sector needs similar attention.

“Top of the agenda for all participants at the conference should be how to inject new thinking and new leadership into the industry.”

The conference is jointly hosted by the Meat Industry Association of New Zealand Inc and Beef + Lamb New Zealand Ltd. ANZ is the principal sponsor.

Mr Turley said that among the key challenges for the industry were reversing the trend of decreasing supply of lambs, lowering production costs, and increasing profit. This will require reinvestment across the whole industry, integration of the supply chain so farmers are rewarded for supply of the right product at the right time.

“It’s crucial that farmers make a commitment to the supply chain so that the marketers and processors can invest in efficient processing and new markets with confidence to enable higher returns,” Mr Turley said.

“Fortunately, there is increasing recognition of the need for a new industry model integrating the supply chain.”

Mr Turley said the conference will be a great opportunity for the entire sector to meet, network and address the fundamental issues facing the industry. “I have enormous confidence that red meat will be a key part of New Zealand’s economic future, but a lot of brave decisions and hard work must happen first.”

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Broadband Network: Spark Launches New, Competitive Ultra Fibre Plan Line-Up

Spark is giving customers an even more compelling reason to switch to its Ultra Fibre plans from today with the introduction of new competitive pricing for the majority of its plans (details below) and Fibre Landline (voice-over-fibre technology) for ... More>>

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news