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


PGG Wrightson moves to weekly velvet schedule

MEDIA RELEASE 21 September 2011

PGG Wrightson moves to weekly velvet schedule

PGG Wrightson is rolling out direct sales options for velvet suppliers via contracts, private sales or tenders aimed at enhancing cash flow for deer farmers.

The new options follow the recent unwinding of PGG Wrightson’s joint venture relationship with ProVelco Co-op and Tasman Velvet Processors.

George Gould, Managing Director of PGG Wrightson says the joint arrangement, which was entered into in 2009, had represented an attempt to consolidate three velvet selling entities into one farmer shared business.

“The initiative, while well intentioned, has not been successful and we are now moving to rebuild our velvet market share. At the same time we appreciate that there is still room to act collaboratively with other New Zealand sellers to uphold price stability and protect the ‘New Zealand Inc’ brand and we will continue to seek opportunities in this regard.”

Tony Cochrane, PGG Wrightson national velvet manager says the company would offer suppliers a weekly schedule of sale dates with sales on a managed but free flowing way, versus the previous spread sales systems with instalments.

“This will act as a ‘point in time’ when velvet is graded and processed for payment, thereby improving supplier cash flow while making velvet more accessible to buyers.”

Mr Cochrane says the 2011/12 season should pose little risk of price instability due to stable volumes in market, while supplied grades of Super A have increased heavily and new initiatives to cut shorter and maximise regrowth represented an option for suppliers.

- Ends -

© Scoop Media

Business Headlines | Sci-Tech Headlines


Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>

Commerce Commission: Noel Leeming Group Warned For Making Delivery Representations Without Reasonable Grounds During COVID-19 Lockdown

Noel Leeming Group has been warned by the Commerce Commission for making delivery representations about two products which, in the Commission’s view, it did not have reasonable grounds for at the time the representations were made. The warning ... More>>