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

 

Chinese meat processors look to NZ ahead of meat deal

Chinese meat processors look to NZ ahead of chilled meat deal

Auckland, 10 May 2016 – The new John Key-brokered deal to gain access for chilled meat to the China market is already attracting Chinese meat processors to the Bank of China (NZ) Agri-Business Investment and Trade Conference in anticipation of China relaxing the rules.

During Prime Minister Key’s recent visit to China, he was given an undertaking that the meat protocols between the respective regulatory authorities would be reformed to allow chilled meat exports to China. The deal, when it goes through, will add multi-millions to New Zealand’s trade with China.

In 2015 New Zealand exported $1.55 billion worth of red meat products to China, composed of $631 million of sheep meat and $550m of beef, all of which are frozen. The remainder was low-value commodities such as offal and intestines.

According to Bank of China (NZ), Shandong Yinbao Food, Shandong Mandixiang Food, Inner Mongolia Shine's Group, and Yihetala Husbandry Development are among the visiting Chinese companies want to import meat from NZ suppliers.

Shandong Yinbao Food (referred to as “Yinbao”) is a leading meat manufacturer in China. It possesses several meat packing plants, a cooked meat production plant, and a meat soup can factory. Its products include pork, cooked meat, meat soup, frozen and chilled meat. Yinbao has a production capacity of 80,000 tons and currently employs 1,000 staff. Their latest total assets are 150 million yuan (around NZ$33 million).

Yinbao is seeking a chilled beef meat supplier to complement and expand its product offering and is alert for further opportunities to develop its business with New Zealand partners.

“I am confident the China-NZ trade relationship is entering a new exciting phase in the wake of the Prime Minister’s visit,” says David Lei Wang, Bank of China (NZ) CEO. “What we are seeing now is the forming of higher value commercial relationships and partnerships, particularly in the agri-business space, as leaders from both countries recognise the mutual long-term benefits,” Bank of China (NZ) Chief Executive Officer David Lei Wang says.

“New Zealand not only has an enviable global brand for fresh produce, it is an agri-business innovation hub – and that’s very attractive to Chinese producers and importers.”

Also during the Prime Minister’s visit, the Ministry for Primary Industries and the China Certification and Accreditation Administration co-signed a new Halal Arrangement, under which China will recognise New Zealand's halal regulation and certification regime for halal goods exported to China. This is a major step forward for New Zealand's halal meat producers.

China has a very large Muslim population, while New Zealand is already a major exporter of Halal certified meat products around the world.

Other attending Chinese companies range across the agri-technology, agricultural equipment, wine, horticulture and dairy sectors and are actively seeking trade partners and investment opportunities.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Consumer NZ: Buy-now, Pay-later Raking In $10m+ In Late Fees Annually

A Consumer NZ survey has found buy-now, pay-later services are costing shoppers more than $10 million a year in late fees. Close to four out of 10 Kiwi consumers use buy-now, pay-later services, such as Afterpay, Laybuy and Zip... More>>

Westpac: Catherine Mcgrath Appointed New Zealand CEO

Westpac Group CEO Peter King and the Westpac New Zealand Board today announced the appointment of Catherine McGrath as Chief Executive Officer, Westpac New Zealand... More>>


Amazon: AWS To Open Data Centres In New Zealand

Today, Amazon Web Services (AWS), announced plans to open an infrastructure region in Aotearoa New Zealand in 2024. The new AWS Asia Pacific (Auckland) Region will consist of three Availability Zones (AZs) and join the existing 81 Availability Zones across 25 geographic AWS Regions at launch... More>>

ALSO:



Statistics: Surge In Imports Results In Record Monthly Trade Deficit
Imports increased $1.8 billion in August 2021 compared with August 2020, resulting in a record monthly trade deficit of $2.1 billion, Stats NZ said today. Exports were little changed, down $42 million. "This is a larger deficit than normal because of higher values for imports.. More>>

Fonterra: Completes reset, announces annual results and long-term growth plan out to 2030

Fonterra Co-operative Group Limited today announced a strong set of results for the 2021 financial year, reflected in a final Farmgate Milk Price of $7.54, normalised earnings per share of 34 cents and a final dividend of 15 cents... More>>


Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>