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


Dairy Industry Probes Bio-Tech Potential

The Dairy Board is to sharply increase its research funding in order to investigate the potential of biotechnology, a move its chairman John Storey says is imperative to ensure his industry stays abreast with developments in this field.

He said the industry would commit an additional $30 million annually over a five-year period to research biotechnology.“

“Our competitors are making large investments in this area and we need to ensure we keep abreast of the science involved,” Mr Storey said.

He said that while New Zealand dairy farmers had the lowest production costs in the world, biotechnology was seen in other countries as providing the means to close the gap.

“We let that happen at our peril.”

“The industry’s studies show the potential returns from research in the bio-tech field are very significant. But it is important to appreciate that this is a long-term project. It will be at least five years before we can expect to see new products or processes emerging from this programme.

He emphasised that the dairy industry would always be acutely sensitive to consumer perceptions and of the importance of maintaining the confidence of its customers.

“Research has always been given high priority in the dairy industry and has been crucial in maintaining our international competitiveness. The industry is already New Zealand’s largest private sector investor in R & D and its future success will be to a great extent dependent on the continuation of that policy,” Mr Storey said.

Mr Storey said the development was very much in line with Government’s drive to build knowledge-based industries and that not the least of the benefits from the initiative would be to attract back to this country New Zealand scientists now working abroad.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news