Week in Review
[23rd June 2022]
In case you missed it, last week we released our annual ‘KPMG Agribusiness Agenda 2022: Growth from resolve and resilience’. You can view The Agenda here.
Domestically, we saw fertiliser prices increase by 7-25%, and farmers have been warned further increases may come. Pāmu received the ‘Best Dairy Ingredient’ award at the World Dairy Innovation Awards held in France for their deer milk products. HES Aotearoa, a joint venture formed in 2021 by UK-based Hive Energy, Ethical Power and Solar South West has received land-use consent to construct a 50 megawatt solar farm in Lauriston, Canterbury.
Internationally, a partnership between Mars Inc and Perfect Day Inc (an animal-free milk protein company) announced the launch of ‘CO2COA’ chocolate, promoted as animal-free and earth-friendly. Joe Biden, President of the United States, called on Congress to suspend fuel taxes for three months, and Post Holdings, a cereal production factory in Nevada plans to spend up to USD$110 million to expand its production capacity.
Week in Review Stories
- Pāmu deer milk product wins global award
- Fertiliser prices increase by as much as 25%
- UK free-trade agreement frees up cash for the ag industry
- Avocado exports take a knock, but it's not all bad news
- Large-scale solar farm planned in Mid Canterbury
- ASB Bank predicts record $10/kg milk price for 2022/23
- US President Joe Biden to call for three-month suspension of gas and diesel taxes - NZ Herald
- Post to spend up to $110M to expand cereal production capacity at Nevada facility | Food Dive
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
Agribusiness fraught with crises fear and tension but there is a way forward:report [16 June, NZ Herald]
KPMG’s latest Agribusiness Agenda describes a tribulate sector, mainly caused by forces out of the industry’s control - Covid-19, climate change, and the Russian government’s war on Ukraine. Domestic factors like new regulations and proposals like Three Waters are also cited as impacting the industry. The report also highlights opportunities for growth despite uncertainty and disruption.
Tags: KPMG Agri Agenda
A ‘bureaucratic nightmare’? Ireland unveils €1.5bn agri-environment scheme [21 June, Food Navigator]
Earlier this week, the Irish government announced a €1.5 billion Agri-Climate Rural Environment Scheme (ACRES) to incentivise farmers to make environmentally positive decisions. In response, Chair of the Irish Farmers’ Association, Tim Cullinan, said the scheme “is likely to be tied up in red tape” and is hesitant that funding will not reach farmers on the ground.
NZ first to price emissions, but won’t be the last [17 June, Farmers Weekly]
Australia’s Agricultural Minister Murray Watt has commented on He Waka Eke Noa – the Primary Sector’s Climate Action Partnership’s recommendation that farmers pay for their livestock’s emissions. He said, “a tax similar to the one floated in New Zealand is not something the (Australian) government is considering”.
Ice cream sector explores new delivery and storage innovations [17 June, Food Navigator]
In efforts to improve energy efficiency, ice cream companies are exploring new ways of storing and delivering their products. Unilever is trialling warmer storage temperatures and the impact on quality and consumer experience.
Tags: Ice-cream, Sustainability
Mars launches animal-free chocolate bar [20 June, Baking Business]
Mars Inc in partnership with Perfect Day Inc (an animal-free milk protein company), have launched a new chocolate, CO2COA, promoted as animal-free and earth-friendly. The chocolate is estimated to have one-third of the greenhouse gas emissions compared with Mars Inc’s typical chocolate.
Tags: New Products, Sustainability
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