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


Red meat sector proposal reaches next stage

21 February 2012

Red meat sector proposal reaches next stage

The Ministry of Agriculture and Forestry (MAF) announced today that a proposal led by Beef + Lamb New Zealand to develop on-farm management capability to enable significant productivity gains in the red meat sector has been approved by the PGP Investment Advisory Panel to business plan development phase.

A final decision on funding is expected later in the year subject to the development of a satisfactory business plan. The proposal involves investment of up to $37 million by PGP matching an equivalent investment by a Beef + Lamb-led consortium.

The proposal is focused on implementing the on-farm elements of the Red Meat Sector Strategy, which was developed jointly by the sector and the government last year. The proposal is centred on the development and adoption of new farm management tools and capability. Meat processors and exporters will be enabled to capture opportunities from a more market responsive and agile farming sector. The Panel believes the programme has the potential to create a step change in performance in the sector and therefore contribute to substantial economic growth for New Zealand.

MAF Director Strategy, Systems and Science Policy, James Palmer, says the potential overlap with existing PGP programmes, including Farm IQ was carefully considered.

“Approval of the proposal is explicitly subject to the programme being focussed on Beef + Lamb’s core role as an industry good provider behind the farm gate, not entering into commercial activity, and being aligned to other PGP programmes to ensure maximum complementarily and minimum overlaps. Beef + Lamb NZ have agreed to these conditions.”

“There are strong potential synergies between the Beef + Lamb proposal and other pastoral PGP programmes. MAF encourages the parties to continue to work together for the betterment of their respective programmes”.

This latest decision takes the total PGP investment allocated to 10 programmes of research and innovation since 2009 to $264 million. Including industry contributions, the total is $530 million.

By way of background, the Red Meat Sector Strategy is aimed at growing the red meat sector in New Zealand by 50 percent by 2025 and involves a number of investors collaborating to create a demand driven value chain for red meat.

For more information about PGP and the Red Meat Sector Strategy click here.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>