Zespri is looking to sell 40% more kiwifruit to Greater China next year as competition heats up and the economy slows down.
The mānuka honey specialist says it will struggle to deliver its promised double-digit earnings growth in its 2024 financial year as demand in its core China and US markets softens.
The first commercially produced Chinese Envy apples will be sold in China this month.
The salmon farmer signs an exclusive distribution agreement that could deliver it sales of up to $10m as it looks to build back its fluctuating China business.
Milk powder, butter, and cheese led goods exports down $552m or 9.3% to $5.4bn in October 2023 compared to the same month last year, according to Stats NZ’s overseas merchandise trade statistics.
Pāmu will stop selling bovine milk products, including infant milk powder, to China next year.
Zespri and its board advisor Sir John Key have met with China’s foreign minister to discuss the illegal plantings of SunGold kiwifruit in the country.
The fall in exports to China is continuing, according to Stats NZ, which said the total value of goods exported to China in the year ended September 2023 was $19.3bn.
The value of New Zealand red meat exports in August 2023 fell 16% on the same month last year as demand from China softened, according to the Meat Industry Association.
Goods exports fell $296m or 5.6% in August 2023 to $5bn, compared with August 2022 with meat and dairy behind the drop.
Rockit Global is gearing up for its biggest Mid-Autumn Festival yet, marking the Asian cultural event in Vietnam for the first time, as well as securing a three-month partnership in China.
The outlook for growth from New Zealand’s biggest export market looks “highly uncertain”, according to the government’s Pre-election Economic and Fiscal Update 2023.
More financial pain is expected for dairy farmers, but a demand-led resurgence is increasingly possible, according to the latest Rabobank Global Dairy quarterly report.
The trade surplus with China was $2bn in the June 2023 quarter, according to figures released by Stats NZ.
Fresh from co-leading a business delegation to India last week, the Auckland Business Chamber is taking 30 New Zealand businesses to China on Friday.
The Chinese food and beverage company is buying the shuttered Waikato dairy factory with plans to revive the cheese and UHT milk processing plant.
The findings of an inquiry following a complaint from the manufacturer fail to go its way.
The dairy company delivers a 27% jump in net profit but warns that challenging conditions in its largest market will continue into 2024.
New Zealand’s dairy and meat exports are coming under pressure with subdued demand from China playing a major role.
Zespri is heading to court to try to counter the illegal production and sales of its SunGold kiwifruit variety in China.
New Zealand Coastal Seafoods is turning its focus to ramping up its Australian activity after ticking off a number of milestones in the June quarter.
Growing demand for alternative proteins in Asia presents an emerging export opportunity for New Zealand manufacturers, according to a new report.
The beverage brand is looking for up to $1m capital, which it says will be used to accelerate growth and capitalise on current market momentum.
Zespri has signed a strategic cooperation agreement with its two largest distributors in China in an effort to bank a 50% uptick in sales over three years.
Comvita has signed what the company described as “a significant long term partnership” with Olé supermarkets in China.
The MOU reflects a shared ambition for Grand Farm and Alliance to be the leading red meat providers in China, says Alliance’s general manager of sales, Shane Kingston.
Mānuka honey specialist Comvita reported record sales in the recent 618 shopping festival in China, up 12% compared with last year’s event.
New Zealand Trade & Enterprise says the business delegation travelling with Prime Minister Chris Hipkins to China will have the dual aims of boosting the economy as well as New Zealand’s relationship with the Asian giant.
Synlait has won approval to re-register A2 Milk’s Chinese labelled infant formula product.
The GM says Fonterra is looking to “push the boundaries” of its $1.2bn Anchor brand, and grow its footprint in South East Asia and China.
New Zealand’s goods exports rose to $5.5bn in January 2023, up 14% compared to the same month last year, according to Stats NZ.
The dairy processor navigates a “very challenging market” to deliver double-digit interim earnings and revenue growth.
Synlait is moving to one of the last steps in its Chinese infant formula re-registration.
Container service T.S Lines has arrived at Wellington’s CentrePort.
Dairy companies A2 and Anchor, mānuka specialist Comvita and pet food company Ziwi were among the top ten New Zealand brands sold to China via Alibaba Group on the annual Singles Day shopping event.
T&G Global said a new record has been set for the sale of Envy apples over China’s Mid-Autumn Festival.
The A2 Milk Company has renewed its exclusive import and distribution arrangements with China State Farm Agribusiness Holding Shanghai (CSFA) for a term of five years from 1 October 2022.
“We have invested in the brand, people and our ability to execute on growth,” says chief executive Tony Burt after a tough H1, with some margin growth expected in H2.
Synlait has received regulatory sign-off to continue to sell its major client A2 Milk’s infant milk formula in China.
While shipping rates are set to improve, labour market constraints and concerns around Chinese demand remain ongoing challenges for the seafood industry, according to Sharon Zollner.
Falling foodservice spend is hitting sheepmeat export volumes hard, with Rabobank identifying further downside risks for the sector.
The dairy company secures a new UHT milk supply contract and renews its deal with its first Chinese customer, Mengniu.
For Maori businesses, exports of milk powder, butter, and cheese in the March 2022 quarter came in at $58m, up $23m or 65.8% from the same quarter a year ago, according to Stats NZ.
Shanghai port congestion could prolong elevated freight prices, while the foodservice shutdown means strong headwinds for dairy demand.
Zespri has stood up a number of work-arounds in China to combat Covid-19 lockdowns which are slowing the distribution of kiwifruit from Shanghai port.
NZ solidifies its position as the world’s largest kiwifruit exporter, with strong global demand indicating more headroom for growth.
Kiwifruit exporter Zespri has estimated that Illegal plantings of New Zealand’s gold kiwifruit in China have doubled in the last year.
A higher milk price heaped pressure on the dairy co-op’s foodservice and consumer margins, leading to a fall in interim profit.
Food manufacturers should prepare for “highly dynamic” food markets in the year ahead as pandemic disruption to supply chains, input costs and consumer behaviour continues, says Rabobank.
Its Australian market share grows, but a wobbly US performance continues, and in-roads are made in China.
The company says the results are inline with expectations and that it has made progress on its turnaround initiatives.
Upgrades to New Zealand’s free trade agreement with China will enter into force on 7 April.
Halal-certified red meat exports increased 13% during the 2020-21 season with most product going to non-Muslim markets, says the Meat Industry Association.
A Beef + Lamb New Zealand and ANZCO Foods co-branded marketing campaign has lifted sales of New Zealand grass-fed beef in China.
Mānuka honey company Comvita said it recorded record sales in line with its forecasts for November’s Singles Day or 11:11 – the world’s biggest shopping event and key event in its focus growth market of China.
New Zealand King Salmon has appointed Carol Chen to its board.
Dairy company A2 Milk has set a target of $2bn revenue within five years by “capturing its full potential” in the China infant formula market and ramping up innovation.
An appeal related to the Overseas Investment Office decision to approve the sale of Westland Milk Products to Chinese conglomerate Yili is set to start on Wednesday.
Dairy company Fonterra wants to increase the value of its $3bn foodservice business, Anchor Food Professionals, to $5bn.
Food exports were strong in H1 but it’s an uneven recovery from Covid for infant formula, cherries and some seafood.
Rockit says its apple sales jumped 94% in Mainland China for the Mid-Autumn Festival sales period, compared to the same time last year.
What does shifting demand mean for the future of the informal channel, which plays a big role for NZ brands such as A2 Milk?
A2 “considers that it complied with disclosures notifications at all time,” following a class claim filing in Australia alleging misleading or deceptive conduct.
The value of New Zealand’s red meat exports topped $650m in August 2021, up 26% on the same month last year, says the Meat Industry Association.
Kiwifruit exporter Zespri says it continues to work constructively with authorities following a positive test result for Covid-19 in China on a sample of fruit from the Bay of Plenty.
Zespri says it has launched its emergency management plans and is co-operating with the relevant government agencies after a sample of its kiwifruit from the Bay of Plenty tested positive for Covid-19 in China.
The sale to the Chinese private equity firm provides the pet food business with access to capital and global market intelligence.
The company’s new CEO Nick Hammond talks culture, scale-up challenges, China, and the prospects for growth.
The prolonged impact of Covid-19 and a rapidly changing China market has prompted the company to launch a growth strategy review.
With China and Korea its number one and two markets, Grove is looking to Thailand and Vietnam for further growth.
Organic apple grower Bostock New Zealand says it has seen a 136% increase in organic apple sales this year across its direct retail programmes in China.
A2 Milk says the Overseas Investment Office has signed off its proposed $268.5m purchase of a 75% interest in Southland dairy nutrition business Mataura Valley Milk.
The Flying Winemaker group has signed a distribution deal which will see its wine sold in foodservice outlets across Mainland China.
Fonterra is offloading its two joint venture farms in China to Singapore-based AustAsia Investment Holdings for $163m.
The former darling of the NZX was forced to slash its revenue forecasts and write down the value of its assets.
China’s recovery from the Covid-19 pandemic helped lift red meat exports over $1bn in March 2021, says the Meat Industry Association.
Food exporters have been warned not to fall back on a ‘business as usual’ approach following the disruption Covid-19 because there is more to come.
Fonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.
The West Coast dairy company will double the capacity of its Hokitika butter manufacturing plant.
Zespri is progressing its plan to move against the unlawful growing of kiwifruit in China as illegal plantings increase.
The co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.
The company suffered a 35% drop in interim profit in what it described as a “challenging” first half year.
The dairy company says it expects an uptick in activity in the second half of FY21 despite continuing uncertainty.
Chinese authorities say the virus has been detected on beef and tripe and packaging from NZ, Brazil and Bolivia.
Zespri intends to sign a Memorandum of Understanding with government officials in China .
Zespri has started a procurement trial in China to try and combat illegal plantings of its SunGold kiwifruit.
NZTE has launched a new global campaign to showcase the country’s food and beverage industry.
Fonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.