US helps offset weak Chinese market
Red meat exports topped $932 million during February, with demand from the US helping to offset the weak Chinese market.
The UK-Australia Free Trade Agreement (FTA), agreed to by Australian Prime Minister Scott Morrison this week, represents a useful yardstick for New Zealand negotiations, say leaders in the red meat sector.
Chief executive of the Meat Industry Association Sirma Karapeeva says the deal sets a useful baseline for negotiations between New Zealand and the UK with evenutal tariff free access for sheepmeat and beef and zero tariff rates on in-quota trade in the interim.
"However, the devil is often in the detail in trade agreements and we'll be studying this closely when the agreement eventually comes out," Karapeeva says.
“We will be looking to achieve a better outcome in the NZ-UK FTA and we look forward to a swift conclusion of our own FTA negotiations. Unfortunately, we are still seeing a gap between rhetoric and action.”
Meanwhile Sam McIvor, chief executive of Beef + Lamb NZ, says the agreement is a significant milestone for the UK as it seeks to forge an independent trade policy post-Brexit.
“It’s giving some better signals around the UK’s intentions to be a serious free trader. The UK-Australia deal looks like it is a shift away rom the EU protectionist model and this is welcome.”
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.
AgriZeroNZ, a joint venture fast-tracking emissions reduction tools for farmers, is pouring $5 million in a biotech company to develop a low emissions farm pasture with increased productivity gains.
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Te Awamutu dairy farmers Doug, Penny, Josh and Bayley Storey have planted more than 25,000 native trees on the family farm, adding to a generations-old native forest.