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Almost $600 million flowed into the meat industry from outside New Zealand in the last 18 months.
Overseas firms looked to secure NZ beef and lamb and strengthen their global agrifood positions, says a new report.
Investors chiefly from China and Japan bought in, says the report ‘Investors Guide to the NZ Meat industry 2017’, released in June. It was commissioned by the Ministry of Business, Innovation and Employment (MBIE) and prepared by Coriolis.
The meat industry has an almost even split of foreign and private ownership, and the largest two firms are farmer cooperatives, the report says.
New foreign firms continue buying into the meat industry and they keep spending on plant and equipment.
NZ meat firms spend on new and improved marketing.
The number of meat processing firms in NZ is growing and industry efficiency is improving, particularly in poultry.
“NZ has a large, robust meat products industry with a wide range of participants of various sizes,” the report says.
“Employment in meat processing in NZ is consolidating in red meat (fewer sheep) and growing in poultry and cured meats; poultry stands out for maintaining or improving efficiency.
“Meat processing employs over 30,000 people spread across the country. While employment is spread across large number of firms, the top three meat processors account for over 50% of industry employment and the top 11 for 85%.
“NZ has a reasonably consolidated meat industry, with a range of strong firms competing; however there appear to be further consolidation opportunities, particularly in lamb and beef.
“Lamb processing share and beef processing share keep changing across the industry.
“Silver Fern Farms remains the largest meat firm in NZ by turnover.”
Alliance Group has secured greater access for chilled beef exports into China following approval of its Levin and Mataura plants to supply that market. With its first load of beef from Levin clearing Chinese customs in early January and a shipment from Mataura recently arriving in China, journalist Leo Argent talked to Alliance general manager safety and processing Wayne Shaw.
New Zealand's red meat exports for 2024 finished on a positive note, with total export value increasing 17% over last December to reach $1.04 billion, according to the Meat Industry Association (MIA).
OPINION: Science funding for the bulwark of the nation, agriculture, is in a parlous state and less taxpayer money is shelled out for it every year.
Alliance Group has secured greater access for chilled beef exports to China, following approval for two of its processing plants to supply the market.
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