Pāmu deer milk product wins global award
Pamu’s Deer Milk has won the Best Dairy Ingredient category at the World Dairy Innovation Awards, announced in Laval, France overnight.
State-owned Pamu Farms of New Zealand can thank the red meat sector, rather than dairy, for its half-year result.
Reporting on the half-year ended December 31, it posted a net profit of $22m -- made possible by a $39m gain attributed to the value of its livestock.
Without that it would have recorded a $6m loss due mainly to the weather. It made $6.9m profit in the half year to December 2016.
Pamu chief executive Steven Carden says despite its livestock valuation having jumped, the wet spring and then drought pushed up onfarm costs, mostly for extra feed.
“These conditions had a flow-on impact on milk production,” he said. Milk revenue decreased 8.5% on the first six months of 2017.
“An increase in revenue from red meat has been pleasing and helped offset less revenue from dairy and the climatically driven increase in farm costs,” says Carden.
The company advanced on its overall strategy in the half year, including lifting its stake in Farm IQ as part of the latter’s capital raising, and launching the Pāmu Academy to give a oush to health and safety training in farming and beyond.
“While the [weather] remained challenging in January, we are forecasting a full year EBITDA of $33m to $38m,” Carden says.
Prevailing climate and commodity price variations confirm Pamu’s strategy of growing shareholder returns by adding value right along the food production chain, he says.
“While farming remains at the core of what we do, we are also taking a cautious approach to finding high value niche markets for our high quality product, with credible, experienced partners.”
He says the company will only export Pāmu-brand products that are thoroughly tested and where a suitable return on investment can be assured.
Farmers in the Australian state of New South Wales will soon be able to use virtual fencing and herding technology to boost farm productivity.
Hawke's Bay teenage entrepreneur Hugo Moffett is helping the rural community access cheaper school uniforms, all without leaving their homes.
As part of preparing for a potential IPO in relation to the divestment process for its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka, Fonterra has named Anne Templeman-Jones as chair-elect of the Audit and Risk Committee for the Mainland Group board.
There's been a positive response to the Government's latest move to make freshwater farm plans more practical and affordable.
Massey University has begun trialling the use of superior beef genetics in its two dairy farms as part of Beef + Lamb New Zealand's dairy beef progeny test.
The annual Featherston Booktown Karukatea Festival – a fusion of books and storytelling - celebrates its 10th anniversary this year.
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