increase font size
Dean Hamilton.
The humble hotpot has been the catalyst for phenomenal growth of the red meat market in China, Silver Fern Farms (SFF) chief executive Dean Hamilton says.
In fact, most of SFF's red meat export growth has been based on the dish in restaurant chains.
During 15 years of exporting to China it had been slow growth. Primarily one or two relatively cheap lamb products went into the hotpot business in a north-eastern region.
But business with China has grown phenomenally in the last five years from $50 million to $330m annually, Hamilton says. A big contributor has been hotpots' rising popularity nationwide via restaurant chains offering everything from relatively cheap dishes to silver service.
Variations on the dish have expanded to include mutton and beef.
Four things have happened during these five years of phenomenal growth, says Hamilton. The lamb business has hugely diversified: two products that
were 85% of the lamb the company sold to China now account for
40%.
They have moved into mutton and beef. The beef business has gone from $3m of sales five years ago to $160m in the 12 months just ended.
"You can see the phenomenal growth we are experiencing, such that we are selling more beef than sheepmeat," he says.
A Māori-owned agribusiness helping to turn a long-standing animal welfare and waste issue into a high-value protein stream for the dairy and red meat sectors wants more industry support.
OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of 125% on the US, up from the 84% announced earlier.
OPINION: The world is bracing for a trade war between the two biggest economies.
Despite Silver Fern Farms (SFF) posting a $21 million loss last season, chief executive Dan Boulton believes that better days are coming.
Ahead of the World Butchers' Challenge, the captains of 14 nations’ teams squared off in Paris over the weekend.
Rural Women New Zealand (RWNZ) says it is delighted by the Government’s announcement that it would invest $250,000 in the organisation.
The road between Napier and Wairoa is on the mend.
Biosecurity remains the top priority for agribusiness leaders, according to KPMG's 2025 Agribusiness Agenda released last week.
Farmers are feeling more satisfied with their banks, but the situation remains fragile, says Federated Farmers.
Environment Canterbury has confirmed a surge in interest in new dairy conversions, with four effluent discharge permits for conversions granted since the start of the year.
Probably the smoothest season growers can remember. That's how Kiwifruit Growers Association (NZKGI) chief executive Colin Bond describes the situation with fruit picking just past its peak.
OPINION: Imagine if the Hound had called the Minister of Finance the 'c-word' and accused her of "girl math".
OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global…
