Archive for the ‘Food’ Category

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…)

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Meat company results only average for 2017 – will 2018 be any better?

June 11, 2018

ANZCO’s lacklustre result for 2017, posted last month, concludes the financial reporting for last year by the three major processors which publish their results. ANZCO’s pre-tax profit was $1.8 million which compares disappointingly with Alliance Group’s $16.7 million profit and Silver Fern Farms Cooperative’s 15 month profit of $7.8 million. (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…)

Doubtful Landcorp will ever deliver acceptable return

March 22, 2018

The latest half year result to 31 December gives rise to serious doubt whether Landcorp, or Pamu Farms as it now likes to be known, will ever justify the taxpayer investment in a national farming enterprise. Published after tax profit was $21.9 million compared to $37.9 million in 2016 on revenue which was 3% lower at $106.4 million, but the EBITDAR was actually a loss of $6.0 million against a $6.9 million profit the previous year. The main difference accounting for the apparent contrast was a livestock revaluation of $39 million. (more…)

How much meat do we actually eat?

February 21, 2018

“There are three kinds of lies: lies, damned lies and statistics” is a quotation which Mark Twain attributed to British Prime Minister, Benjamin Disraeli. Over a three week period the Sunday Star Times is conducting ‘an investigation into how environmental concerns are putting the heat on meat.’ Although much of the first article in the series was balanced and fair in its commentary, the main conclusion was clearly wrong, based as it was on misleading statistics published by the OECD. These appear to show a dramatic drop in the amount of red meat, particularly lamb and mutton, New Zealanders are eating. (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…)

Essential to keep close watch on alternative products

November 23, 2017

This is the year when plant based alternatives to dairy and meat have suddenly started to pose a more serious threat to the traditional animal based products on which New Zealand farmers, and our economy as a whole, depend. There is no danger these alternatives will suddenly take over the world, leaving dairy and sheep and beef farmers wondering what to do with their stranded assets. But, to prevent being taken unpleasantly by surprise, it will be necessary for the dairy and red meat sectors to keep a close watch on these competitors and track their progress with global consumers. (more…)

Global meat trends look positive

October 31, 2017

2016 saw widely differing agricultural export performances between New Zealand and our trans-Tasman neighbours. According to the Red Meat Advisory Council’s State of the Industry 2017 report, Australia broke all records by increasing its exports of red meat to A$15.1 billion, up by nearly A$6 billion since 2009. It was the world’s biggest exporter of beef, second biggest for sheep meat and third biggest live exporter. (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…)

Dairy beef profitable for beef and dairy

July 20, 2017

For well over 20 years one of the largest challenges in the meat industry has been dairy farmers’ lack of recognition of the opportunity to make more money from their calves by selling them to calf rearers for beef production. There have always been calf rearers willing to stick their neck out and buy calves, but this was highly dependent on both beef and milk price. But for dairy farmers it was easier to select their replacement heifers and put the rest on the bobby calf truck, rather than find rearers to take the bull calves or keep them on the farm for up to three months. (more…)