Week in Review
[9th June 2022]
This week the He Waka Eke Noa (Primary Sector Climate Action Partnership) emissions pricing proposal was released in New Zealand which has become a key headline of the week as we hear reactions and responses. The farm-level split-gas levy has been designed to allow farmers clarity, opportunity to innovate and time to build trust, while slowly increasing the total levy over time. Prices are suggested to start at NZD$110/tonne for methane fixed until 2028.
In New Zealand the red meat industry also announced its record April results just short of NZD$1b worth of exports and the global dairy trade auction has increased 1.5% with its first rise since March. Supermarkets stay in headlines as details emerge on the expected impact of Government’s action following the industry review, while online grocer Supie continues its long-term ambition of disrupting the duopoly with a $5m funding round.
Internationally, the Australian stock exchange (ASX) has launched an agribusiness index after high demand, and the rapidly growing vertical farming business JBL claims that vertical farms will end the import of soft fruit and herbs within a decade due to accelerated innovation and recent proof of concept systems for growing a range of fruits, vegetables and herbs in their systems.
Week in Review Stories
- Supie goes wide for $5m funding round
- New Zealand red meat exports achieve record April but markets prove volatile
- Online trading thrives through covid
- Vertical farms will end imported soft fruits and herbs in ten years, claims Ocado-backed JFC
- The big wins for shoppers in the government’s supermarket shake-up
- Dairy prices bounce for first auction since March
- Farming bodies seek power equal to Government in ag emissions system
- HWEN recommends farmers own their own emissions
- Government in race against time to price farm emissions by 2025
- ASX launches agribusiness index as investor interest grows
Opportunity of the Week
Our Fieldnotes audience has early access to registrations for the second Food & Fibre Insights course co-delivered by KPMG and the University of Waikato.
Designed to provide leading-edge knowledge while remaining flexible to suit full-time professionals, the course provides the opportunity to explore six key topics from biotechnology and value-chains to water, oceans and the future of food. The course has leading guest presenters from across New Zealand and the world, while being co-facilitated by KPMG’s Ian Proudfoot and senior agribusiness lecturers at the University of Waikato.
“The course quickly became the highlight of my week” - Course #1 Participant
Foresight Focus Series
This week, Matthew Lancaster (KPMG Propagate advisor) investigates the future of gamification in our lives and its possible extension into education, talent acquisition, and waste reduction.
"The way we engage with the world around us is changing rapidly. Gamification is poised to dominate our daily interactions with the environment, other people, and ourselves. My question is – how are you going to engage with gamification?"
Gamification – What are the opportunities when combined with the technology of tomorrow? | LinkedIn
World’s first raspberry picking robot cracks the toughest nut: soft fruit [1 June, The Guardian]
With increasing seasonal labour shortages in the picking industry, British company Fieldwork Robotics may have the answer. The company has developed the world’s first raspberry picking robot, a challenging task due to the berry’s delicate body. At 1.8 meters tall (5ft 11in) and at the cost of GDP$2 million to develop, the robots can pick 1kg of fruit an hour, though Fieldworks Robotics aims to increase this to 4kg/hour. Work is also being undertaken to bring the technology to other fruit sectors.
Tags: International, Robotics & Automation, Agritech
US reveals US$2.1bn funding package to bolster food system [1 June, Just Food]
In response to anti-competitive practices in the US food sector, the US Department of Agriculture announces a USD$2.1 billion funding package to create a “fairer, more competitive [and] more resilient [food system]”. A primary focus of the fund is on diversifying the currently monopolised meat and poetry sector, with USD$800 million allocated for small to medium businesses to incentivize expansion in the market.
Tags: International, Policy & Regulation, Food Security
The Dunedin chocolate company with the innovative DIY taste test [3 June, Stuff]
From the embers of Dunedin’s Cadbury factory, which shut down in 2018, comes a new Chocolate business Ocho Chocolate. As a newcomer to the market, Ocho has released its tasting box marketing strategy which puts its chocolates against two unnamed competitors. While briefly available in Dunedin, the tasting box will be available for consumers online at a later date.
Tags: Food Marketing
Industry braces for EAT-Lancet: the sequel [6 June, Food Navigator]
The EAT-Lancet Commission, which published its first findings in 2019, announces an updated publication to release in 2024. The commission, which spans national borders, brings top scientists together to create research-based findings to the question ‘Can we feed a future population of 10 billion people a healthy diet within planetary boundaries?’. The new report aims to improve upon the original which some claimed to lack practical applicability.
Tags: International, Research & Development
Primary sector's first think tank says modern foods are coming [3 June, Stuff]
A recent report published by Primary-sector think-tank Te Puna Whakaaronui says that NZ needs greater investment into new food technologies to keep up with competitors abroad. Alternative proteins, personalised nutrition, and climate technology were all featured in the report. Conversely, co-founder of Brothers Green (a hemp seed growing business) Brad Lake commented, “There is a long way to go before a mainstream adoption of green protein”.
Tags: Agribusiness, Food Innovation, Alternative Proteins
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