Week in Review
[28th July 2022]
This week in Aotearoa New Zealand, LIC have announced a record net profit of NZD$26.7m, and a 50% increase in annual dividend. Westpac NZ has announced the set-up of their sustainable agribusiness loan pilot while Fonterra Cooperative Group share their innovation focus on ‘nutrient bundles’ based on pasture-fed buttermilk powder to create cognition, sight and mood enhancing products.
The Agri Women’s Development Trust ‘Generation Change’ programme is also shared ahead of it’s second cohort in Palmerston North, successfully attracting over 100 young women across two session to learn about accelerating careers in food and fibre sector. Internationally, the United Arab Emirates has seen the opening of the largest vertical farm in the world at 330,000 square feet with the capacity to produce almost 1 million kg of leafy greens annually.
Several headlines have also shared the news of foot and mouth disease being identified on meat product in Australia. Although this border identification posed no immediate risk to farms, it has put New Zealand on high alert with heightened biosecurity rules for products from Indonesia.
Week in Review Stories
- LIC brings home large returns on shares
- Foot and mouth disease detected in meat products in Australia
- Fonterra talks innovation that boosts cognition, sight and mood
- The World’s Biggest Vertical Farm Just Opened in Dubai
- Programme aims to get more young women working in food and fibre sector
- Westpac NZ Announces Package Of Sustainability Initiatives
Foresight Focus Series
This week KPMG Propagate Manager Paulette Elliott shares a brief deep-dive into the growing sector of Pet Food.
Highlighting innovations from Pawsecco dog wine to personalised pooch nutrition, Paulette outlines why New Zealand should continue to consider the added-value product opportunities of serving four-legged consumers.
China plans to build world's largest water canal from Three Gorges Dam to Shanghai [26 July, Interesting Engineering]
China is continuing work on its planned 1,400 km long open canal that connects water surplus areas in the south to areas with severe water shortage in the north. Once completed, the project will convert an area the size of Chile (570,000 sq. km) from wasteland into arable land. Food output from this area is anticipated at 595 million tonnes, more than what the US currently produces (540 million tons). The Yinjiangbuhan tunnel is the latest step in the project and is expected to take a decade to complete at the cost of USD$8.9 billion.
Tags: International, Farming Systems
Food Safety Spotlight
New online tool to make a food complaint [25 July, Farmers Weekly]
New Zealand Food Safety (NZFS) has released a new online tool that makes it easier for the consumers to report food complaints. The tool provides situation-specific information to guide which complaints should be made to NZFS and which should be made to a local authority. Complaints are used in keeping New Zealand’s food safe. So far, in 2022, 93 products have been recalled.
Tags: Food Safety
A recent study released by Australia’s Deakin University concluded that marketing of foods on TikTok may be putting children’s health at risk. Researcher Dr. Brooks recommends that the government step in and restrict kids’ exposure to unhealthy food and beverage marketing. Dr. Brooks warns that if current trends continue, by 2030, 18 million Australian adults could be overweight or obese.
Tags: Food Marketing, International
The $290 Billion Fund Helping Make Tiny Singapore an Agricultural Powerhouse [26 July, Bloomberg]
Dilhan Pillay, CEO of Singapore-based investment company Temasek Holdings, has been doubling agriculture investment since 2015. The company’s agriculture holdings have increased from USD$5.7 billion to USD$26.7 billion. Temasek’s Holdings include plant-based meat start-ups, Israeli irrigation firms, and eFisheries. Temasek’s agri-food head Anuj Maheshwari commented that with issues such as climate change plaguing the sector, Temasek’s capital investment is vital for ensuring global food security.
Tags: International, Agribusiness
US nutritionist Diana Rodgers making the case for animal products [22 July, The Country]
US nutritionist Diana Rodgers argues “there is no substitute to real food” and that dominating alternative protein messages are leaving consumers misinformed, particularly surrounding their nutritional value. Emphasising the importance of regenerative farming, Rodgers is pushing for meat raised in ethical ways that are less destructive to the environment.
Tags: Research & Development, Red Meat
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