Week in Review

In Aotearoa…

The finalists for this year's Ahuwhenua Trophy which recognises excellence in Māori farming, this year for sheep and beef farming, have been announced. The finalists are Whangaroa Ngaiotonga Trust from Northland and Tawapata South Māori Incorporation Onenui Station from Hawke's Bay.

Fonterra Co-operative Group Limited have provided an update on its plan to divest its global consumer businesses. It will explore both trade sales and an IPO as potential options. As part of preparation for the potential IPO, the organisation has chosen Mainland Group as the corporate brand for the entity if it is to be publicly listed.

A Bay of Plenty start-up specialising in autonomous AI-driven agricultural equipment, Robotics Plus, has been acquired by Japanese manufacturer Yamaha. This acquisition builds on Yamaha's earlier NZ $10 million investment in the company. Robotics Plus will continue design and manufacture their autonomous orchard machines in New Zealand.

Horticulture New Zealand and Kaipara Moana Remediation are partnering on a pilot programme to support kūmara growers in Northland. This initiative focuses increasing resilience for growers while reducing the impact of growing operations. It will include by fencing and native planting programmes aimed at increasing on-farm biodiversity and restoring local waterways.

In international news...

The Cuban government will receive US $9.3 million (NZ $16 million) from the United Nation Food and Agriculture Organisation to boost food production. The five-year initiative aims to transform agri-food systems on 53,850 hectares through a circular economy approach. It aims to benefit over 18,500 Cubans addressing severe food shortages in the country.

British supermarket, Tesco has filed an antitrust lawsuit against eight Norwegian salmon producers for alleged price fixing. This lawsuit follows longstanding accusations and investigations into the salmon industry, including a significant probe by the European Commission concerning alleged price fixing.

A new report, by the European Union (EU) shows agrifood exports in 2024 increased by 3% between January and November 2024. While exports to China fell by 9%, decreasing by €1.2 billion (NZ $2.21 billion), increases in exports to other countries more than offset the reduction. Agrifood exports to the United States increased by €2.8 billion (NZ $5.2 billion) on the previous January to November period.

Spotlight Stories

Aquavoltaics Spotlight:

sea bed with a fish

China explores solar ponds shaded by panels to farm sea cucumbers, generate power [Interesting Engineering, 18 February]

A new approach, called aquavoltaics, is being explored in China, where they are looking to integrate solar energy production with sea cucumber farming. Sea cucumbers are a valuable ingredient in cuisine and traditional medicine but are challenging to grow in aquaculture systems. The aquavoltaic method will use solar panels to generate power while providing shade that benefits the growth of sea cucumbers. Chinese researchers conducted a year-long study comparing shaded ponds with unshaded ones, finding the shading effect reduced water temperatures, the cooling effect reduced the duration of hibernation which slows growth, and potentially prevents sea cucumber summer mortality. Original full article here

Tags: aquavoltaics, sea cucumbers, solar energy 

Innovation Spotlight:

Man carrying bananas

Tropic to launch non-browning bananas in March, extended shelf-life bananas by year-end [AgFunderNews, 21 February]

British-based plant biotech firm, Tropic, will launch non-browning bananas in March, and extended shelf-life bananas by the end of 2025. Tropic’s technologies, including CRISPR gene editing, have enabled targeting specific genes to prevent browning and extend the fruit's shelf-life, with regulatory approvals secured in several countries. The company says their innovations will reduce food waste, lower shipping costs, and open new export markets. Original full article here

Tags: non-browning bananas, shelf life, CRISPR

Headline Stories

commerical fisher man fishing tuna

Climate change is robbing Pacific islands of another resource: Tuna [The Washington Post, 19 February]

The world’s largest climate fund, Green Climate Fund have announced fourteen Pacific island nations will receive US $107 million (NZ $187 million) to help adapt their tuna-dependent economies. Climate change is driving tuna further away from the shores of these countries. The grant project will create an advanced warning system for nations to track tuna migration, and potentially seek compensation as the fish move out of these countries' exclusive economic zones. It also includes funding to boost tuna consumption locally, as climate change diminishes the coral reef fish traditionally eaten. Original full article here

Tags: tuna, Green Climate Fund, climate change

man holding rice in his hand

Rice-Based Casein? This Japanese Startup Says It’s Cracked the Grain [Green Queen, 21 February]

Tokyo-based food tech startup Kinish has raised ¥120 million (NZ $1.4 million) in seed funding to produce animal-free dairy proteins inside rice grains using molecular farming. Kinish combines plant molecular farming with vertical farming to create its casein protein. This funding will accelerate Kinish's R&D for rice-derived casein and support its expansion into the United States. The startup plans to develop a commercial-scale casein-containing rice variety and initially launch a rice-based ice cream. Original full article here

Tags: animal-free dairy proteins,  molecular farming, rice grains

vegetables in a stand

New Zealand at risk of losing locally grown veggies [RNZ, 24 February]

Industry body Vegetables NZ is warning that New Zealand risks losing significant amounts of locally grown vegetables unless government policies are reformed. The current system is slow to provide consents to grow, and inconsistent regional decisions are making operations unviable for local growers in some regions. Growers are advocating that vegetable growing should become a permitted activity under the current resource management reforms going through parliament. Original full article here

Tags: Vegetables NZ, resource management reforms, policies

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