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ANZ backs red meat industry profit initiative

11 December 2013

ANZ backs red meat industry profit initiative

A new growth partnership, led by the Ministry for Primary Industries and including some of the biggest players in the red meat industry, is a major step in the recovery of the sector, says the country’s largest rural banker.

ANZ said today that the Red Meat Profit Partnership – the newest programme to join MPI’s Primary Growth Partnership (PGP) programme – will contribute to getting industry participants working together for the future of red meat.

"Red meat is an industry we should expect great things from, but isperforming well below its potential,” said Graham Turley, ANZ’s Managing Director Commercial and Agri.

“One of the goals of this project will be to increase volume and certainty over the supply of livestock which will support initiatives to increase our market opportunity.”

The seven-year programme aims to transform the sector by delivering better information and tools to support farm business decision and increase profitability across the sector.

As the largest banker of the agricultural sector, ANZ undertakes dedicated red meat industry research and invests heavily in improving management skills and development of best practices across the sector to support the new generation of farmers.

As part of RMPP ‘go early’ arrangements ANZ has in recent weeks collaborated with Beef and Lamb New Zealand to include sector farmers in the ANZ Privately Owned Business Barometer survey.

Farmers with good business management and who have adopted new technologies are already positive and profitable, and the RMPP programme will help them capture a greater share of a significant opportunity, Mr Turley said.

“By working closer together, the sector can pool resources and knowledge. 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.”

“We’re looking forward to sharing market intelligence, insights and experience to the important work of the red meat profit partnership over the next seven years, and making a positive contribution towards a secure and profitable future for the sector, and the New Zealand economy.”

ENDS

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