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Rabobank welcomes signing of Red Meat Profit Partnership

Rabobank welcomes signing of Red Meat Profit Partnership

Agricultural banking specialist Rabobank has welcomed the recent signing and successful contracting of the Red Meat Profit Partnership (RMPP).

The finalisation of the $64 million dollar partnership has been announced with the Crown officially contracting its support of the initiative.

Rabobank New Zealand CEO Ben Russell said the bank was pleased to confirm its
support as a partner of the RMPP alongside the other co-investors.

“Rabobank is very pleased to play its part in this very important initiative for New Zealand agriculture,” Mr Russell said.

“In order for the meat sector to maximise its potential growth over the long term, farmers must be profitable, competitive and sustainable in the tough environment of the global animal protein sector.”

While good seasons and high prices are obviously important, Mr Russell said that so too is the adoption of new technology and the continued development of skills and capability across the industry.

Mr Russell said the imperative for change and innovation in the red meat industry was at an all time high, with the industry along the entire value chain facing many challenges.

“In recent years, many farmers have voted with their feet by leaving the industry, due to low and inconsistent profitability,” he said.

“If this trend is to be stopped, we need to see more consistent on-farm returns for farmers – that is the goal of the RMPP.”

The RMPP will begin a seven-year program of investment to transform the transfer and adoption of best practice on-farm. It aims to develop stronger relationships from the farm gate, processors and trusted advisors.

Co-investors of the RMPP include Alliance Group, ANZCO Foods, ANZ Bank, Beef +
Lamb New Zealand (on behalf of sheep and beef farmers), Blue Sky Meats, Greenlea Premier Meats, Progressive Meats and Silver Fern Farms.

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