Week in Review

In Aotearoa…

Fisheries New Zealand will increase catch limits for several fisheries, including snapper and Kaikōura pāua, following a biannual review showing healthy and abundant stocks. However, catch limits for the Challenger Plateau orange roughy and Southland blue cod fisheries have been reduced due to sustainability concerns.

Fonterra Co-operative Group Limited has released their co-operative's revised strategy to enhance value for shareholders, following their earlier strategic review. The revised strategy aims to deliver strong farmer offerings through farmer payouts and an enhanced dividend policy, expanding their Foodservice business in key markets, investing in operations, building sustainability and innovation.

The New Zealand government is co-investing $5.6 million in partnership with New Zealand Winegrowers into increasing vineyard productivity. The seven-year Next Generation Viticulture programme is aimed at increasing vineyard productivity by $22,060 per hectare by 2045 through innovative canopy management techniques and growing configurations.

The Commerce Commission has refused to give clearance for the proposed merger of Foodstuffs North Island and Foodstuffs South Island. The commission cited concerns over the merger’s impact on competition, reducing the number of major grocery buyers from three to two, and subsequent impact on New Zealand consumers.

Organics Aotearoa New Zealand (OANZ) has launched a nationwide campaign in opposition to the government’s plans to pass legislation to reform gene engineering and modification by the end of 2025. The new regulations could allow gene engineering and modification outside the laboratory for the first time in 30 years; OANZ is concerned about the potential impact the regulations would have on New Zealand's reputation, the livelihoods of organic farmers, and consumer choice.

In international news…

Shares in Chinese dairy companies have increased following the government's announcement to introduce measures to boost local milk production and consumption. The measures included an anti-subsidy probe on imports from the EU, loan support and dairy product promotions.

The Canadian government has launched a pilot programme allowing beef producers to purchase price protection in the form of an insurance policy against unexpected market declines. The two-year initiative enables farmers in Prince Edward Island and New Brunswick to obtain price protection by paying premiums determined by regional cattle prices.

Redefine meat has introduced its 3D-printed vegan steak to the UK retail market. The 3D-steak, made from non-GMO plant proteins, is designed to closely mimic the sensory profile of animal meat, even appearing to bleed upon cutting. The vegan steak has been available on restaurant menus across Europe since 2022 and is now being sold to consumers through UK retailer, Ocado.

Spotlight Stories

Trade Spotlight:

A birds eye view of a coastline and trees

EU says it won’t budge on deforestation rules [1 October, Farmers Weekly]

The European Union (EU) has confirmed it will enforce new deforestation regulations as planned on 30 December 2024 without delay or exemptions. The new regulations will require all imports of agricultural products to provide evidence that they do not originate from land cleared of trees within the past four years. New Zealand raised concerns about the substantial impact of the regulations on global trade and the heavy compliance burden on countries and producers particularly as it remains unclear how detailed and frequent the reporting requirements will be. Original full article here

Tags: deforestation; regulation; agriculture; export; import

Innovation Spotlight:

Trays of red meat on a production line

Meat spoilage project gets $1m funding [27 September, Farmers Weekly]

Researchers at the University of Otago will receive $1 million over the next three years to develop a spray-based product that uses natural compounds to prevent spoilage from pathogenic bacteria in meat. The New Zealand red meat industry generates revenues of $10.8 billion annually, but spoilage causes the loss of 0.5 to 1% of export products, resulting in tens of millions of dollars annually. The research aims to identify new bovine and ovine host defence peptides (HDPs) and develop a commercially viable HDP-based spray product. Target products for this research are chilled rather than frozen, as chilled products have higher value and are more susceptible to spoilage. Initial focus is on beef and lamb, but they hope to expand their solution in the future. Original full article here

Tags: red meat; pathogenic bacteria; host defence peptides

Headline Stories

A birds eye view of a shipping port

NZ strikes its 'fastest ever' trade deal, with the United Arab Emirates [26 September, RNZ]

New Zealand has signed a free-trade agreement with the United Arab Emirates (UAE), marking the fastest trade deal in the country’s history. Negotiations began in May and took just four months to conclude. The agreement will eliminate duties on 98.5% of New Zealand's exports to the UAE, increasing to 99% within three years. With over $1 billion worth of goods exported to the UAE annually, it is one of New Zealand’s top 20 export markets. Original full article here

Tags: free trade agreement; United Arab Emirates; tariff

Silhouette of poeple skipping

Climate ‘supercomputer’ launched for ‘more timely weather forecasting’ [29 September, Agriland]

Ireland’s state meteorological service, Met Éireann, has launched a new weather and climate ‘supercomputer’ that offers more timely weather forecasts and warnings. The technology will provide a better representation of meteorological parameters and provide more timely updates to the forecasters, running hourly compared to the previous version that ran every three hours. The supercomputer, based in Iceland, was created in collaboration with the national meteorological services of Denmark, Iceland, and the Netherlands. The technology will be powered by renewable Icelandic hydropower and geothermal energy sources. Original full article here

Tags: weather; climate; supercomputer; forecasts; warnings

two scientists walking through a greenhouse

Meet SweGreen: This Swedish vertical farm start-up grows vegetables inside of supermarkets [15 September, Euro News]

Swedish company, SweGreen, is building farms inside supermarkets as a solution for water shortages, agricultural land availability geopolitical dependencies, at the same time as reducing transport emissions, extending shelf life, and improving taste. Customers can see the greens grow and be harvested in front of them, to then pick them up from the shelf. Each hydroponic platform can produce the equivalent of up to three hectares of traditional farmland. SweGreen can grow up to 100 crop species, including lettuce, dill, mint, and parsley, and is exploring growing fruit-bearing plants like strawberries. Original full article here

Tags: farm; supermarket; rockwool plug; sustainability

Get in touch

 

Audit – Auckland
Ian Proudfoot
09 367 5882
iproudfoot@kpmg.co.nz
Agri-Food – Auckland
Andrew Watene

09 367 5969
awatene@kpmg.co.nz
Management Consulting – Wellington
Justine Fitzmaurice
04 816 4845
jfitzmaurice@kpmg.co.nz
Private Enterprise – Hamilton
Hamish McDonald 

07 858 6519
hamishmcdonald@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