Week in Review

[6th October2022]

This week in Aotearoa New Zealand, CH4 Aotearoa’s tank-grown seaweed facility has opened where it will grow Asparagopsis species for feeding to cattle to reduce methane production (achieving greater than 90% reduction in some trials), and the Aquaculture industry has received $210,000 from the Ministry of Business, Innovation and Employment to aid in filling an estimated 500 vacancies.

Food Waste is also in the headlines as Burger Fuel launches a waste-based bread beer, the Aotearoa Food Rescue Alliance discusses a recent report showing over 100,000 tonnes of food is wasted in New Zealand annually, and Australia launches a new Food Rescue Sector Action Plan co-designed by the countries four biggest food rescue charities.

In other news, ASB transfers ownership of Mount Albert Grammar School farm to guarantee it’s future in agricultural education, cookie sales have grown 7.7% over the past year to reach a value of USD$8.6b in a world ‘snacking boom’, and new analysis shows interesting figures on international climate reduction targets including a headline that 35% of the world’s 50 largest meat and dairy businesses in Europe and North America have not yet publicly published their sustainability targets.

Foresight Focus

For this week’s KPMG New Zealand Field Notes Foresight article, Jack Keeys has written a LinkedIn post from the future in a world where Aotearoa takes a brave approach to biotechnology, research investment, and collaboration.

You haven't heard of the NZ Immuno-apple, our avocados that don't overripen, or our climate-friendly happy animals yet?
Instead of waiting a couple of years, you can fast-forward to Fieldays opening in June 2024 with a sneak peek into a potential future!

Linkedin | The Biotechnology Announcement You Haven't Heard Yet

Spotlight Stories

Apiculture Spotlight

Massive stockpiles as mānuka buzz fades [29 September, Farmers Weekly]

An overproduction of manuka honey domestically sees an estimated year’s worth of produce in storage as beekeepers struggle to sell their produce. At its height, mid-range manuka in 2019 fetched between NZD$65-85/kg; today selling for NZD$25/kg. Currently, New Zealand possesses a hive population of 800,000, Bee researcher Dr. Mark Goodwin recommends that 600,000 would be a sustainable figure.

Tags: Apiculture 

Alternative Proteins Spotlight

Alternative protein pioneers and Chinese policymakers convene at “historic” food innovation event [3 October, Food Ingredients First]

China’s Ministry of Agriculture and Rural Affairs (MARA) met with industry leaders from the alternative protein space last week to discuss the future of food security and the role China can play in ensuring food security globally. Chinese public records show significant funds are being invested into the local alternative proteins sector, similar to how China scaled up its solar panel and electric vehicle sectors. MARA Deputy director Wang Xiaohong commented that China is ideal for innovation as “Chinese people are highly receptive to new things”. 

Tags: Alternative Proteins, International 

Headline Stories

Agribusinesses join with Government on emissions research centre [3 October, The Country]

A government-proposed research centre designed to tackle agriculture greenhouse gas emissions sees buy-in by large domestic agribusiness businesses, contributing NZD$7.75M to the initiative this year. With government backing all industry contributions, Agriculture Minister Damian O’Conner anticipates a total NZD$172M investment over the next four years as other businesses join. The research centre forms part of the government’s commitment to net-zero emissions by 2050.

Tags: Environment & Emission 

NZ firm wants to help world rely less on milk protein[4 October, Stuff]

NZ Biotech start-up Daisy Lab received a multimillion prize to support the challenges of moving from research to market as the first winners of the nationwide Got Nous competition. Daisy Labs, selected from over 500 other businesses, aims to reduce the globe’s dependence on milk protein. Using precision fermentation, Daisy Lab “trains” microorganisms to create the diary proteins casein and whey, which later on can be used to produce dairy alternative products.

Tags: Alternative Proteins, Dairy

Improving Food Security in Africa with Nuclear Techniques [29 September, International Atomic Energy Agency]

Member countries of the International Atomic Energy Agency came together last week to discuss the progress of nuclear science and technologies in creating a resilient climate change agriculture sector for Africa. The discussion included case studies from successful programs, including Ugandan experts utilising plant mutations to prevent root disease in vegetables.  

Tags: Biotechnology, Food Security, International 

Get in touch

 

Audit – Auckland
Ian Proudfoot
09 367 5882
iproudfoot@kpmg.co.nz
Management Consulting – Wellington
Justine Fitzmaurice
04 816 4845
jfitzmaurice@kpmg.co.nz
Agri-Food – Auckland
Jack Keeys

09 363 3502
jkeeys@kpmg.co.nz
Private Enterprise – Hamilton
Hamish McDonald 

07 858 6519
hamishmcdonald@kpmg.co.nz
Agri-Food – Auckland
Andrew Watene

09 367 5969
awatene@kpmg.co.nz
Farm Enterprise – South Island
Brent Love

03 683 1871
blove@kpmg.co.nz

Agri-Food - South Island
Paulette Elliott
+64 2788 61744
pauletteelliott@kpmg.co.nz

Field Notes Administrator
Demosson Metu
+64 9365 4073
dmetu@kpmg.co.nz