Week in Review

[17th March 2022]

This week, Fonterra Co-operative Group and Future Consumer is to wind down due to COVID disruptions in the Indian market. World Bank predicts that developing the Sri Lankan fishery industry could improve sustainability within the sector, improve domestic food security, and improve the Sri Lankan GDP; and reports state US oil price drops by 8.8%.

Further international stories, a US start-up Brightseed has discovered potential health benefits of hemp hulls to reduce liver fat and inflammation, human trials are now underway. Researchers from Harvard, Peking and Cambridge Universities estimate the carbon impact of global croplands could be reduced by 71% by moving production to areas better suited for production. Nature Friendly Farming Network believes Red Tractor needs to rethink their approach to pesticides so that farmers feel better supported.

In domestic news, we saw the National Fieldays postponed to the end of November; New Zealand government has reduced excise duty on petrol and road user charge by NZD$0.25 a litre effective for three months; diesel road user charge changes will take longer to implement – “…details for how we will support RUC payers in the coming days” Grant Robertson, NZ Transport Minister announces. 

Foresight Focus Series

As pandemic and conflict-disrupted trade flows continue to cause uncertainty, it is those peering beyond the horizon who will position themselves in the most advantageous way for operating in this ever-changing world.

Unintended consequences, top line or bottom line, and what is the new currency in exports? | LinkedIn

Spotlight Stories

Dairy Spotlight:

Fonterra, Future Consumer to wind down India joint venture [11 March, The Country]

The joint 50/50 venture of Fonterra Co-operative Group and Future Consumer (an Indian fast-moving consumer goods company) is now in the process of winding down. The joint venture created in 2018, was established to test the Indian market with its sizeable dairy-consuming population. COVID disruptions over the years were cited as a difficulty for the venture.

Tags: International, Dairy 

International Spotlight

Russia's war driving up wheat prices and threatening global supplies of bread, meat and eggs [15 March, Stuff]

Russia and Ukraine contribute a large proportion of global exports of Wheat, Maize, and other grains, David Ubilava, Senior lecturer of Economics at the University of Sydney, says poorer nations will be hit the hardest from the conflict as they import large quantities of wheat from these markets. Ubilava cites price increases for wheat, maize, and barley between 22-28% and warns that meat and egg prices may follow.

Tags: International, Food supply

Headline Stories

U.S oil tumbles more than 8%, dips below $100 per barrel [14 March, CNBC]

New COVID related lockdowns in China and the Russian invasion into Ukraine are being heralded as the cause for the sharp decline in US oil prices earlier this week. US oil benchmark, West Texas Intermediate crude futures, dropped 8.8% at peak before settling at a 5.8% decrease at market close.

Tags: Economy, Oil

Are we farming in the wrong areas? Relocating croplands can reverse environmental impacts, say researchers [10 March, Food Navigator]

By moving farming production of major crops from current areas deemed inefficient to areas better suited to farming and allowing these inefficient areas to return to their natural states, researchers from Harvard, Peking, and Cambridge Universities estimate we could reduce the carbon impact of global croplands by 71%.

Tags: Environment, Sustainability

Brightseed discovers compounds in waste hemp hulls that could help fight fatty liver disease [9 March, AgFunder]

US start-up Brightseed has discovered potential health benefits of hemp hulls (the outer shells of cannabis sativa seeds). Brightseed’s studies found that by giving mice doses of certain bioactive compounds found in hemp hulls (N-trans-caffeoyltyramine, NCT, and N-trans-feruloyltyramine, NFT), mice saw reduces in liver fat, liver inflammation, and body weight. Human trials are now underway.

Tags: Innovation, Health 

Get in touch

Audit – Auckland
Ian Proudfoot
09 367 5882
Management Consulting – Wellington
Justine Fitzmaurice
04 816 4845
Agri-Food – Auckland
Jack Keeys

09 363 3502
Private Enterprise – Hamilton
Hamish McDonald 

07 858 6519
Agri-Food – Auckland
Andrew Watene

09 367 5969
Consultant – South Island
Genevieve Steven

03 307 0761

Farm Enterprise – South Island
Brent Love

03 683 1871

Field Notes Administrator
Demosson Metu
+64 9365 4073