Monday, 18 March 2024 15:21

Meat Board oversees $2.6b in exports to quota markets

Written by  Sudesh Kissun
The quotas mean NZ exporters save tariffs worth $934 million every year. The quotas mean NZ exporters save tariffs worth $934 million every year.

The New Zealand Meat Board (NZMB) oversees $2.6 billion of red meat exports to the quota markets of the European Union, United Kingdom and United States.

The quotas mean NZ exporters save tariffs worth $934 million every year - comprising $609 million for EU and UK sheepmeat and goatmeat, $6.8 million for EU high quality beef and $317 million for US beef and veal.

NZMB chair Kate Acland made the comments at the board’s virtual annual meeting held last week.

Acland told attendees that NZMB’s administrative role has expanded significantly since the board’s establishment more than a century ago.

“The NZMB has been working in the background for more than a century, ensuring seamless market access for our goods, and it’s also been funding industry good projects for many years.

“Prior to the UK’s exit from the EU, the NZMB administered three World Trade Organization (WTO) quotas.

“Two quotas were added following Brexit and a further two as a result of the NZ-UK Free Trade Agreement (FTA). A further three quotas will be added when the NZ-EU FTA enters into force, bringing the total to 10 quotas.”

There was strong interest in beef access under the new tariff free UK FTA beef quota, delivering positive signals into this market, she says.

“Between May 2023 and December 31 2023, more than 1,700 tonnes entered under this new quota with tariff savings of $9.9 million.

“Preparation for the EU FTA is underway and it is anticipated implementation requirements can be concluded for entry into force by mid-2024.”

Sam McIvor, chief executive of the NZMB, said the Board’s work during 2023/24 included planning to establish the management systems for administering the new FTA quotas.

“With support from the New Zealand Government, the NZMB successfully secured paperless quota certification in the US quota market, realising significant economic benefits for exporters. The Board is now seeking expansion of paperless quota certification to other quota markets.”

The NZMB also administers significant farmer reserves, currently standing at $79 million, held as a contingency fund to help New Zealand re-enter export markets in the event of a biosecurity incursion or disruption in quota markets.

Interest from this fund is used for industry-good projects. Following consultation with farmers, the Board is now considering proposals to allocate up to $700,000 in ongoing investment to the Informing New Zealand Beef (INZB) genetics programme and up to $1 million into a new programme focused on eradicating facial eczema in sheep.

More like this

Alliance Group re-set delivering results

Alliance Group has turned a corner on a challenging two years following a comprehensive re-set over the past 18 months and is forecasting a return to profitability, farmer-shareholders were told at the company’s annual meeting in Gore today.

Lamb crop drop

There's been a dramatic and larger than expected drop in the number of lambs produced in New Zealand.

Featured

New UHT plant construction starts

Construction is underway at Fonterra’s new UHT cream plant at Edendale, Southland following a groundbreaking ceremony recently.

National

Machinery & Products

GEA launches robotic milkers

Milking technology provider GEA Farm Technologies is introducing its first automatic milking system (AMS) in New Zealand.

More front hoppers

German seeding specialists Horsch have announced a new 1600- litre double-tank option that will join its current Partner FT single…

Origin Ag clocks up 20 years

With roots dating back to 2004, Origin Ag was formed as a co-operative business model that removed the traditional distributor,…

» Latest Print Issues Online

The Hound

Dark ages

OPINION: Before we all let The Green Party have at it with their 'bold' emissions reduction plan, the Hound thought…

Rhymes with?

OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be,…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter