2024 Agribusiness Agenda

The 2024 KPMG Agribusiness Agenda, titled 'Today’s potential, tomorrow’s possibilities', presents the findings from the annual KPMG Agribusiness Leaders Priority Survey, alongside insights from over 150 food and fibre industry leaders who have contributed their insights and perspectives on the pressing issues facing the sector.

"While it was not unexpected that 'world-class biosecurity' has maintained its position as the top priority for leaders in this year’s survey, it is not surprising that leaders are focused on a wide range of top-of-mind issues, given the number of issues shaping the operating environment for organisations across the food and fibre sector."

Ian Proudfoot
KPMG Global Head of Agribusiness

In preparing the insights for The Agenda this year, we engaged with current leaders as well as emerging leaders, asking them the same questions in the annual KPMG Agribusiness Priorities Survey to discuss what needs to be done now to create the future they envision for the sector.

Agribusiness Agenda 2024

Today’s potential, tomorrow’s possibilities

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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Todays' potential

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On industry morale

"There are hundreds of influential sector leaders who are not involved in preparing the Agenda but who need support to enable them to lead the conversations in their local communities and build confidence about a long-term, sustainable future for their industry."

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On biosecurity

“In responding to Covid-19, it was the small things like washing hands and wearing masks that did the most to protect us from infection. With the threats we face, it will be good farm management practices and hygiene standards that will offer the most protection.”

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On regulation

“The more relaxed tone is very likely connected to the Coalition Government’s commitment to eliminate the perceived regulatory oversteps of the previous government, ensuring that New Zealand has a regulatory environment that enables long-term business success rather than ties it up in red tape.”

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On trade

"The challenge for the Government is ensuring that their actions on trade will continue to create value for the country. The question is whether the greater return will come from long-term expansion of our FTA network, or, given where the world is at today, focusing on protecting and upgrading the access we have already secured."

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On biotechnology

“If we are to be competitive, we can’t continue to have “unenforceable and foolish rules” that just don’t work when scientific advances have made it near impossible to tell whether a product has been edited or not.”

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On capital

“We must put out the open sign and let international investors know we welcome investment if it comes from investors with similar values who are prepared to buy into building a better future for New Zealand together."

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On people

“Industry leaders are not doing a great job at altering their leadership style to respond to the needs and expectations of a new generation of employees. Younger employees are looking to be recognised as complete people, not just labour units, and want to feel valued for what they are contributing to the organisation."

Tomorrow's possibilities

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On water

“There are practical steps the Government needs to take to give individuals and organisations the confidence to start drafting business cases and seeking investment. Most importantly the consenting rules need to be addressed as nobody will invest in a 100-year asset if the consent to operate the asset is only granted for 15 or 20 years."

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On climate transition

“In responding to Covid-19, it was the small things like washing hands and wearing masks that did the most to protect us from infection. With the threats we face, it will be good farm management practices and hygiene standards that will offer the most protection.”

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On science and innovation

“For the right science to be done and, more importantly, for it to create outcomes, it is critical that investment is not left to the Government – all interested parties must have some skin in the game."

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On digital

“There is a lot of work to do to build confidence that AI tools are about creating efficiencies, better jobs and outcomes for all. People who fear the technologies are infinitely more likely to be disrupted than those prepared to make the effort to become comfortable with the tools, as the human interface remains critical."

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On nature

“Numerous contributors noted they have no issue with the community expecting them to continuously improve how they manage nature, but it needs to be acknowledged that the costs of providing these services are increasing and it is no longer reasonable to assume that product revenues cover the costs."

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On energy

“The increased attention on the issue this year suggests multiple factors are increasingly at play: the rising cost of energy, uncertainty about the security of petrol and diesel supply, concerns about the resilience of rural electricity infrastructure and, hopefully, the opportunity associated with embedding energy generation into food and fibre production systems."