New Zealand: Meat Board oversees $2.6 billion in exports to quota markets

Frozen Bone-In Beef

Published Mar 18, 2024

Tridge summary

The New Zealand Meat Board (NZMB) has broadened its administrative role, now overseeing 10 World Trade Organization quotas that save New Zealand exporters $934 million in tariffs annually. The board is also preparing for the EU Free Trade Agreement, expected to be operational by mid-2024. Additionally, the NZMB has achieved paperless quota certification in the US and aims to extend this to other markets. The board also manages a $79 million farmer reserve fund and is contemplating an investment of up to $1.7 million in genetics and sheep health programmes.

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Original content

The quotas mean NZ exporters save tariffs worth $934 million every year - comprising $609 million for EU and UK sheepmeat and goatmeat, $6.8 million for EU high quality beef and $317 million for US beef and veal. NZMB chair Kate Acland made the comments at the board’s virtual annual meeting held last week. Acland told attendees that NZMB’s administrative role has expanded significantly since the board’s establishment more than a century ago. “The NZMB has been working in the background for more than a century, ensuring seamless market access for our goods, and it’s also been funding industry good projects for many years. “Prior to the UK’s exit from the EU, the NZMB administered three World Trade Organization (WTO) quotas. “Two quotas were added following Brexit and a further two as a result of the NZ-UK Free Trade Agreement (FTA). A further three quotas will be added when the NZ-EU FTA enters into force, bringing the total to 10 quotas.” There was strong interest in beef access ...

Source: Ruralnewsgroup