Week in Review

[5th May 2022]

This week we have seen the ‘iconic’ kiwi brand Edmond’s announce that wheat must be sourced from Australia due to wheat yields in the South Island being negatively affected by weather events.

In the regulation space, New Zealand’s Government is reported to have accepted most of The Three Waters Working Group’s recommendations which include a public shareholding structure and a strengthened and more explicit role of the Regional Representative Group. And in the pork sector, potential updates to animal welfare regulations on pig farms related to the phasing out of farrowing pens could result in the death of 60,000 piglets a year according to Pork NZ.

Internationally, growing food prices continue to affect many across the world with flow on effects on consumer spending habits. A recent UK study shows an increase from 58% to 71% of consumers prioritising value for money over sustainability when shopping for groceries. We also hear about the dual challenge faced by the EU in the energy sector: How to pay for Russian energy that does not breach EU sanctions and how to transfer into developing their own or sourcing energy that is not dependent on Russia. 

Foresight Focus Series

This week in our Foresight Focus Series, Brig Ravera investigates the future of our honey industry. Certain honeys have remarkable medicinal properties and we are seeing huge sums being spent on medical grade honey globally, there is also existing technology that is well along the path to solving many of the challenges that bees face globally. This presents an opportunity for our New Zealand honey industry to revolutionise for the future.

Nectar of the gods: how New Zealand could revolutionize our honey industry from food to medicine | LinkedIn

Spotlight Stories

Forestry Spotlight

Govt proposal to take exotic forests out of Emissions Trading Scheme could cost $64 billion - report [29 April, Stuff]

A recent proposal from the government to exclude permanent exotic (non-native) forests from the Emissions Trading Scheme (ETS) is causing controversy. Infometrics Economic consultants from the Climate Forestry Association estimate the decision could cost the economy NZD$64 billion over the next 15 years if implemented. According to Infometrics, a ban will have significant implications for how to meet emissions targets in New Zealand.

Tags: Forestry, Policy & Regulation, Environment & Emissions

International Spotlight

The Week in Agrifoodtech: Middle East in the money as Foodics gets $170m, Red Sea Farms nets $19m [28 April, AgFunder Network]

Last week saw Foodtech start-ups receive USD$270.8 million in investments and Agtech start-ups USD$100.2 million. The United Arab Emirates start-up Foodics received the largest funding at USD$170 million to assist in bringing its restaurant management platform overseas. Other successful start-ups included Levels (a US metabolic fitness platform) and CoverCress (a US cover crop innovation company), securing USD$38 million and USD$26 million, respectively. A complete list of start-ups and their descriptions and funding received can be found in the news article link.

Tags: International, Agritech,

Headline Stories

Massey and Lincoln Universities to collaborate on primary sector projects [28 April, Rural News]

Five agriculturally based research projects will receive a combined NZD$611,000 as part of the Massey – Lincoln and Agricultural Industry Trust Capability Development and Research Fund (MLAIT CDR). Projects include 3D printed food from animal and plant proteins, conversion of wastewater into nutritious ingredients, and the development of a positive mental health programme aimed at rural students.

Tags: Research & Development

Supply chain logistics disruptions continue [28 April, Farmers Weekly]

In an interview last week, Alliance Group sales manager Shane Kingston warned, “I don’t see a pathway to an end to supply chain disruption for the next two and a half to three years.” This comes as Cargo ships are held up across the country due to the implementation of automated systems at the Ports of Auckland and an already stressed industry due to global labour shortages and COVID incursions.

Tags: Trade & Exports

Young Maori woman appointed first chair of the Food and Fibre Youth Network [2 May, Rural News]

Established June last year, the Youth Food and Fibre Network announces Cheyenne Wilson and Lincoln Roper as first-chair and vice-chair respectively. The network, a New Zealand Young Farmers and Ministry for Primary Industries collaboration, aims to bring a young perspective to the decision-making table and to create a sector where rangatahi (young people) can thrive.

Tags: Future Leaders 

Get in touch

 
Audit – Auckland
Ian Proudfoot
09 367 5882
iproudfoot@kpmg.co.nz
Management Consulting – Wellington
Justine Fitzmaurice
04 816 4845
jfitzmaurice@kpmg.co.nz
Agri-Food – Auckland
Jack Keeys

09 363 3502
jkeeys@kpmg.co.nz
Private Enterprise – Hamilton
Hamish McDonald 

07 858 6519
hamishmcdonald@kpmg.co.nz
Agri-Food – Auckland
Andrew Watene

09 367 5969
awatene@kpmg.co.nz
Consultant – South Island
Genevieve Steven

03 307 0761
gsteven@kpmg.co.nz

Farm Enterprise – South Island
Brent Love

03 683 1871
blove@kpmg.co.nz

Field Notes Administrator
Demosson Metu
+64 9365 4073
dmetu@kpmg.co.nz