Week in Review

[25th August 2022]

This week in Aotearoa New Zealand, the food and fibre exports for 2021/2022 financial year were announced at NZD$53.3b. This result was over $1b higher than forecast, with beef markets continuing to demonstrate a strong demand outlook and pricing above $10/kg average export value compared to a five-year average of $7.15/kg. While revenues are high, Stats NZ have stated that expenses on farm have reached their highest since 1993 when records began and this combined with further mortgage increases is expected to cut farm profits.

Internationally, further progress has been made in Australia for upcycling food waste into high-grade protein animal feed using black soldier fly, the Research Council of Norway is funding additional cellular agriculture projects in milk, eggs and meat, and the largest global grain trading businesses have reported record profits which is raising concerns of speculation and profiteering at the expense of poorer nations and their consumers. 

Foresight Focus Series

After a trip to India last month, this week KPMG Propagate Agri-Advisor Pratik Bhanage imagines what the news headlines of India and New Zealand could be 10 years from now if the two countries unlocked future opportunities of strong and genuine collaboration.

India Collaboration: Headlines for 2032 | Linkedin

Spotlight Stories

Farming Systems Spotlight

Vertical farm offers fresh local strawberries in winter [23 August, Stuff]

Whanganui-based indoor vertical farm by indoor farming company 26 Seasons continues to supply its local community with fresh strawberries despite the fruit’s usual reliance on overseas exports during the off-season. Strawberries are grown using a full indoor hydroponic system with no soil. The plants are given a nutrient solution through a fully enclosed watering system that sees no leaching into the waterways. Using 95% less water than an outdoor farm, work is underway to test the feasibility of growing other fruits in similar conditions.

Tags: Horticulture, Farming Systems

Food Innovation Spotlight

Speaker at Business Conference and Presentation. Audience at the conference hall.

Cauli, kiwifruit among KiwiNet finalists [18 August, Farmers Weekly]

Numerous primary sector innovators are geared to appear at the upcoming KiwiNet Awards, an event that showcases the success within the research commercialisation space. Among these is Massey student Mrinali Kumar, a finalist for her cauliflower ice cream that uses retail excluded cauliflowers to produce near conventional ice cream but with a lower environmental footprint.

Tags: Food Innovation

Headline Stories

First lower-methane cows could be born next year [19 August, Stuff]

Research led by dairy breeders LIC and CRV has found that a group of bulls within a study of 300 produced 15% less methane than average, and 30% less than the group's highest emitters for the same amount of feed. Continued research is underway to test the feasibility of breading lower emitting cows that could assist in reaching the industry's longer-term emissions targets, with the first trial of offspring set to be born by 2027. 

Tags: Dairy, Environment & Emissions, Research & Development 

Food as medicine continues to gain traction and inspire innovation post-pandemic [18 August]

Following the health scare of COVID-19, Lisa Maas from global insights company IRI reveals consumers are shifting towards more health-focused foods, with food manufacturers responding accordingly. Maas shows products with essential vitamins claims are up 271%, and specific health claims such as “liver support” are up 28% since pre-pandemic. Maas expects fibre will be the next health trend as more consumers learn about the gut-brain connection.

Tags: International, Food Marketing, Food Innovation 

The Week in Agrifoodtech: Oatside secures $65m for Singapore’s first oat milk, input supplier iProcure scores $10m [18 August, AgFunder]

Last week, the agrifoodtech start-up space saw Singapore’s first oat milk brand “Oatside” raise USD$65 million in funding to help the company expand across Asia. Other big winners included US-based Eat Just, a planted-based and cultivated meat manufacturer that received USD$25 million to aid in expansion into the Chinese market. And, Jerusalem-based Groundwork BioAg who received USD$18 million for its continued work with mycorrhizal inoculant (fungi used to enhance the growth of crops). A complete list of companies that secured funding can be found here.

Tags: International

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Field Notes Administrator
Demosson Metu
+64 9365 4073