NZ out of step - report
New Zealand is out of step globally in looking to put a price on agricultural emissions from food production.
The slow-release, biodegradable bolus developed by Ruminant BioTech sits in the animal's rumen, releasing a controlled dose of a methane inhibitor for up to six months.
The latest trial on cattle reportedly showed impressive results, with a 75% daily methane reduction for 100 days from a single treatment.
The technology has received a $4 million funding boost from AgriZeroNZ, an industry joint venture between the Government and leading agribusiness companies in New Zealand, including Fonterra.
AgriZeroNZ chief executive Wayne McNee says the public-private joint venture is pleased to boost its investment in Ruminant BioTech by $4 million, on top of an initial investment of $1.8 million in April 2023.
"Ruminant BioTech is proving its technology is working - on animals and in New Zealand - so we're pleased to make this further investment to accelerate the development of a pasture-based solution for Kiwi farmers.
"The bolus has demonstrated world-leading results for methane reductin in a pastoral system in its latest animal trial, and we look forward to supporting the team to make their emissions reduction tool available to farmers."
Ruminant BioTech chief executive Tom Breen says his company is working with MPI on full product registration to enable the methane-inhibiting bolus to be used on New Zealand farms.
Breen says the company aims to be treating over 30 million cattle annually by 2030 and envisages this increasing to 100 million cattle within the next 10 years.
"This additional funding from AgriZeroNZ will help us accelerate our product and market development programme and build our first manufacturing plant in New Zealand to bring the product to market in late 2025, starting in Australia and followed by New Zealand, subject to regulatory approvals."
McNee believes the bolus could be a game-changing tool to help farmers reduce emissions without changing farming practices.
"The bolus application holds huge promise for providing Kiwi farmers with a solution that's practical and effective.
"It has the potential to be suitable for all ruminant animals, and due to its low touch nature, it's also a viable option for the likes of beef farmers who don't need to interact with their animals daily."
AgriZeroNZ has committed more than $34 million across a range of emissions reduction tools and technologies for New Zealand, farmers including novel probiotics, low methane pasture and methane vaccines.
"There isn't going to be a one-size-fits-all approach when it comes to reducing emissions across our agricultural sector," McNee says.
