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

 


Kiwi and Korean deer farmers to work together

Kiwi and Korean deer farmers to work together

The deer industry plans to work with Korean deer farmers to further build demand for New Zealand deer antler velvet in South Korea, its largest market.

“The Korean Deer Breeders Association used to be opposed to velvet imports, but they now accept that by working together we can grow the pie for their farmers, as well as ours,” says Deer Industry New Zealand (DINZ) chief executive Dan Coup.

Long part of the allure of deer farming, with an Asian medical pedigree going back thousands of years, velvet has recently stepped into the modern era.

“In South Korea there is growing demand among affluent consumers for health foods and tonics based on traditional ingredients like velvet and ginseng. Because of New Zealand’s reputation for natural, safe and quality-assured product, respected Korean food companies see us as the ideal source of velvet,” Mr Coup says.

DINZ estimates 20 per cent of New Zealand’s velvet production goes into health-foods and tonics in South Korea … a market segment that was near non-existent 10 years ago. The retail value of these products is now more than US$100 million a year, with one children’s tonic alone taking around 8 per cent of NZ’s velvet production.

This new demand is one factor in the gradual increase in New Zealand farm gate prices for velvet from an average of $NZ60 a kilogram six years ago to nearly $NZ100 a kg in the season just ended. Other important factors include declining velvet production in Asia and North America, and increasing wealth in China.

Mr Coup says it is in the long-term interests of New Zealand deer farmers that the Korean deer farming industry prospers.

“Deer velvet plays an important part in the Korean culture. For example, many city folk like travelling to local deer farms to consume and buy antler products. Traditions like these help maintain market buzz and underpin demand ... they’re not the sort of thing that imported velvet could replicate.”

Velvet supply from Korean deer farms has always been insufficient to meet demand from the traditional Oriental medicine market and healthy foods industry. This shortfall became more acute when herds were badly impacted by an outbreak of foot and mouth disease four years ago.

“It’s in the interests of Korean deer farmers that this demand is increasingly being met by supply from New Zealand,” says Mr Coup.

“We offer animal welfare, biosecurity, food hygiene and traceability standards that can’t be matched by velvet suppliers anywhere else in the world. Also, our industry is well organised and able to work with the Korean Deer Breeders Association on projects that benefit us both.”

DINZ and exporters are very mindful of the free trade negotiations now underway between New Zealand and South Korea.

"South Korean government charges, in particular a 20 per cent import tariff and excise duty of around 9 per cent, are costing NZ farmers and Korean consumers dearly. Oriental medicine doctors and health food companies in South Korea share our view on this. It’s in all our interests to create a tariff-free pathway from the NZ producer to the Korean consumer,” Mr Coup says.

[ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news