Strong wool eyes China
China looks set to play a key role in helping the New Zealand wool sector shift away from trading as a commodity supplier.
It’s still unclear just how much the outbreak of coronavirus in China will affect New Zealand exports to that country.
China is NZ’s single largest market for our total primary exports and the number one for dairy, meat and wool, seafood and forestry. It is also high on the list for horticulture.
While there is no formal ban on our exports to China, the fact that the country is in lockdown is creating problems with distributing goods with many workers staying at home or facing restricted movement to do their work.
NZ Trade and Enterprise (NZTE) has set up a special section on its website, which is regularly updated.
It anticipates ongoing disruption to business for at least a fortnight, as Chinese local government agencies encourage staff to stay at home.
Meanwhile, market analysts AgriHQ say farmers are being stuck with stock because factors beyond their control are conspiring against them. It says record high farmgate prices in November and early December prompted many farmers to hold stock for longer than usual.
“Unfortunately, coronavirus came to a head when the market was expected to start picking up and consumption has collapsed.”
Relationships are key to opening new trading opportunities and dealing with some of the rules that countries impose that impede the free flow of trade.
Dawn Meats chief executive Niall Browne says their joint venture with Alliance Group will create “a dynamic industry competitor”.
Tributes have flowed following the death of former Prime Minister and political and business leader, Jim Bolger. He was 90.
A drop in methane targets announced by the Government this month has pleased farmers but there are concerns that without cross-party support, the targets would change once a Labour-led Government is voted into office.
Farmer shareholders of meat processor Alliance have voted in favour of a proposed $270 million joint venture investment by Irish company, Dawn Meats.
The former chair of the Bay of Plenty Regional Council and farmer, Doug Leeder, says rural communities' biggest fear right now is the lack of long-term certainty over environmental regulations.
OPINION: Media luvvies at Stuff, the Spinoff and the Granny Herald are spending more time than ever navel-gazing about why…
OPINION: Why does it take Treasury so long to turn around its figures on how the economy is tracking?