Thursday, 25 April 2024 11:55

Funding boost for red meat

Written by  Staff Reporters
New Zealand Meat Board chair Kate Acland. New Zealand Meat Board chair Kate Acland.

Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).

The decision follows consultation with sheep and beef farmers on the distribution of interest and dividends generated from the NZMB’s $79 million reserves fund towards industry good projects. Up to $700,000 will go to the Informing New Zealand Beef genetics project (INZB) and up to $1 million to the Eliminating Facial Eczema Impacts (EFEI) programme.

Kate Acland, chair of the NZMB and Beef + Lamb NZ, says the two projects will deliver significant benefits to red meat producers.

“This funding boost from the NZMB will help both INZB and EFEI drive major productivity gains behind the farm-gate for thousands of sheep, beef and dairy farmers across the country. This investment comes at a critical time for the sector, which is facing significant financial pressures.

“INZB is providing farmers with the beef genetics tools to help drive productivity and profitability on farm. It is on track to achieve its goals of boosting the sector’s profits by $460m over the next 25 years.

“The EFEI programme aims to equip farmers with tools, knowledge and solutions that can be adopted to combat a devastating livestock disease, and improve productivity in the red meat and dairy sectors.”

The NZMB does not identify or administer any research programmes, however, it considers funding projects put forward by B+LNZ, says Acland.

“The NZMB has three key roles. One is to achieve the best possible ongoing returns from sheepmeat and beef exports to international quota markets. It currently oversees $2.6 billion of red meat exports to the quota markets of the European Union, United Kingdom and the United States, representing tariff savings of $934 million a year for the sector. It also administers farmer reserves, currently standing at $79 million,” says Ackland.

More like this

RMA amendments 'will be a relief to farmers'

The Government’s announcement that a Bill to amend the Resource Management Act (RMA) could be introduced in Parliament next month will be a relief to farmers, says Beef + Lamb New Zealand (B+LNZ).

Not so bad!

OPINION: Your old mate is still somewhat gobsmacked by sheer stupidity and lack of understanding by Beef+Lamb NZ’s board in asking for a pay rise at this year’s annual meeting.

BLNZ fee increase rejected

Frustrated red meat farmers soundly rejected a move by the Beef + Lamb New Zealand board to increase its director fees.

Featured

Feds make case for rural bank lending probe

Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.

National

MPI cuts 391 jobs

The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.

Fonterra unveils divestment plan

Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra…

Machinery & Products

GPS in control

In a move that will make harvesting operations easier, particularly in odd-shaped paddocks, Kuhn has announced that GPS section control…

» Latest Print Issues Online

The Hound

Wrong, again!

OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour…

Reality check

OPINION: Your canine crusader gets a little fed up with the some in media, union hacks, opposition politicians and hard-core…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter