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The free trade agreement with Korea is critical for New Zealand sheep and beef farmers and meet exporters, says Beef + Lamb NZ chairman James Parsons.
It keeps us competitive in this key market, says Parsons.
The free trade agreement (FTA) will be a significant step towards reducing the overall amount of tariffs paid on New Zealand red meat exports, says both Parsons and the Meat Industry Association (MIA).
Trade Minister Tim Groser signed this week the New Zealand Korea FTA with his Korean counterpart.
The New Zealand sheep and beef sector is worth $8.5 billion, with close to 90% exported, on which we paid $318 million of tariffs in 2013. A significant proportion of those tariffs were paid in Korea ($52m) – where applied tariffs on our beef exports are 40%.
Korea is New Zealand's fourth-largest beef market by volume, taking nearly $125 million of beef exports last year. However, trade volumes have dropped significantly in recent years, partly due to competitors such as the United States, and more recently Australia and Canada, having a tariff advantage through their FTAs with Korea.
"These negotiations were tough, and credit must go to our government negotiators and to Trade Minister Groser for the excellent job they did in getting this deal done" said MIA chairman Bill Falconer.
B+LNZ and MIA work together to improve access for sheep and beef products to overseas markets, including by providing in-depth analysis in support of the Government's FTA negotiation efforts.
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).
Alliance Group has secured greater access for chilled beef exports to China, following approval for two of its processing plants to supply the market.
Last year was tough for the red meat sector but there are positive signs, according to industry leaders.
Global beef supply will contract this year for the first time since the Covid-19 pandemic, according to Rabobank.
WorkSafe New Zealand is calling on farmers to consider how vehicles move inside their barns and sheds, following a sentencing for a death at one of South Canterbury’s biggest agribusinesses.
Now is not the time to stop incorporating plantain into dairy pasture systems to reduce nitrogen (N) loss, says Agricom Australasia brand manager Mark Brown.
Building on the success of last year's events, the opportunity to attend People Expos is back for 2025, offering farmers the chance to be inspired and gain more tips and insights for their toolkits to support their people on farm.
Ballance Agri-Nutrients fertiliser SustaiN – which contains a urease inhibitor that reduces the amount of ammonia released to the air – has now been registered by the Ministry of Primary Industries (MPI). It is the first fertiliser in New Zealand to achieve this status.
Precision application of nitrogen can improve yields, but the costs of testing currently outweigh improved returns, according to new research from Plant and Food Research, MPI and Ravensdown.
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