Archive for the ‘Overseas investment’ Category

ANZCO confident no repeat of horror year

July 10, 2019

ANZCO’s 2018 pre-tax loss of $38 million was the worst result in the company’s history. The exporter has traditionally posted a profit, even in difficult years for the meat industry which has always had a chequered history, so it is critical to assess what went wrong and, more important, how to make sure it doesn’t happen again. (more…)

China presents opportunity and complexity

August 2, 2018

Rabobank’s China expert and GM Food and Agribusiness across Australia and New Zealand, Tim Hunt, provided Red Meat Sector Conference attendees with an in depth analysis of the enormous opportunities that China offers agricultural exporters, as well as the complexities of doing business there. (more…)

Silver Fern Farms’ result shows benefit of capital injection

April 6, 2018

Silver Fern Farms Limited has posted an improved annual result for its first year with its new Chinese partner, Shanghai Maling, which invested $260 million to acquire a 50% share of the meat processor and exporter. Revenue for the 2017 financial and calendar year, following the change in balance date from the traditional meat industry year to September, was on a par with 2016, but the NPAT of $15.4 million was a huge increase on the previous year’s $30.6 million loss, although not as good as the 2015 result of $24.6 million. (more…)

Meat companies must be clear about their purpose

March 7, 2018

When I heard KPMG’s global agribusiness head, Ian Proudfoot, on the radio stating the move away from meat to alternative proteins was happening permanently and quickly and meat companies needed to wake up, I wondered whether I had strayed into the Pop Up Globe to see A Midsummer Night’s Dream. Surely if meat companies need to wake up to alternative protein, this implies their whole business model is broken and farmers should be sitting in front of their horoscopes looking for a magical answer to the inevitable question “what the hell do I do now?” (more…)

ANZCO is now 100% Japanese owned

December 21, 2017

One of Japan’s two largest meat processing and marketing companies, Itoham Yonekyu Holdings, has received OIO consent to increase its shareholding in ANZCO Foods from 65% to 100%. It will acquire the shares currently held by ANZCO’s management (18.24%) and Japanese food company Nissui (16.76%) as a carefully planned transition which will see founder and chairman, Sir Graeme Harrison, retire at the company’s AGM in March. (more…)

Brexit problems proliferate while negotiators procrastinate

October 27, 2017

An Agri Brigade piece in the latest Private Eye, that marvellous example of good old-fashioned investigative journalism, made me acutely aware of the law of unintended consequences that inevitably applies to trade agreements. With less than 18 months until Brexit, UK negotiators don’t appear to have made any tangible progress towards a workable agreement with their EU counterparts. (more…)

Overseas land ownership not just a New Zealand concern

October 27, 2017

On a recent trip to Australia I read an article about overseas land holdings on that side of the Tasman which illustrates

the dramatic growth in Chinese investment in Australian agricultural land. In contrast to the rather sketchy and out of date statistics available in New Zealand, the Foreign Ownership of Agricultural Land Register provides very specific figures at 30th June this year. (more…)

Coalition never benefits smaller partner

October 13, 2017

Now the special votes have been counted New Zealand can expect a decision on the formation of a government for the next three years. Who knows, by the time you read this it’s possible if unlikely a result might even be known. But one thing is almost certain – whichever partner New Zealand First chooses will end up getting the credit for a successful coalition, while the junior partner or partners will get the blame for what goes wrong. (more…)

AFFCO’s first chilled shipment unloaded in China

September 15, 2017

AFFCO chairman Sam Lewis visited China last weekend to greet the first container of AFFCO chilled meat to arrive for distribution to eager food service and retail customers throughout Henan Province in east-central China. The arrival was marked by an official reception at Zhengzhou attended by the NZ Trade Commissioner Liam Corkery, MPI representatives Dave Samuels and Steve Sutton, and a Kangyuan executive. According to Lewis the speed of customs clearance for the consignment was a record for meat shipments, taking no more than three hours for the whole process. (more…)

Beef forecast to stay firm in face of market upheavals

July 4, 2017

Rabobank’s Quarter 2 Beef Quarterly paints a positive picture of global demand and prices for the rest of 2017 in spite, or more probably because, of a series of upheavals and changes affecting the world’s beef trade. (more…)