Passion2Profit officially joins Primary Growth Partnership

Joint MPI and Deer Industry New Zealand media release

26 May 2015

Passion2Profit officially joins Primary Growth Partnership

Deer Industry New Zealand (DINZ) and the Ministry for Primary Industries (MPI) have announced today that a new Primary Growth Partnership (PGP) programme, Passion2Profit, will officially begin.

The contract has just been signed for the $16 million, seven-year programme, which is intended to be a game-changer in the production and marketing of venison, delivering $56 million in extra revenues a year from the end of the programme.

Speaking from the Deer Industry annual conference today, DINZ Chief Executive Dan Coup says it’s exciting to be able to begin work on this venture.

“Our farm-raised venison is arguably the best red meat in the world, but through the support of the PGP, Passion2Profit will have the resources to create the step changes we need as an industry,” he says.

One of the major challenges for the deer industry is over-reliance on markets where demand is seasonal and not in step with New Zealand’s venison supply.

“There are two clear opportunities in Passion2Profit. The first is branding and positioning lean, tender, farm-raised venison as a luxury red meat sold year-round in new markets and market segments. The second opportunity is helping farmers adopt systems and technologies to deliver the venison that markets want, when it’s wanted,” say Mr Coup.

“Passion2Profit is supported by farmers, processors and exporters, all of whom are committed to turning their passion for deer and venison into greater profit.”

PGP Acting Director Michael Jamieson says this programme is a huge milestone for New Zealand’s venison industry.

“Passion2Profit will support collaboration between venison marketers and processors, and boost uptake of new technology and on-farm practices by producers,” says Mr Jamieson.

“The programme will capitalise on demand for New Zealand’s premium products and generate higher premiums for this quality product, tapping into new markets with significant potential.”

A total investment of $16 million has been committed to Passion2Profit, with a $7.4 million contribution from the PGP over the life of the programme, and the balance coming from Deer Industry New Zealand and its commercial partners.

“MPI is excited to be on board with this innovative new venture,” says Mr Jamieson.

[ENDS]

About the Primary Growth Partnership

The PGP aims to boost the value, productivity and profitability of our primary sector through investment between government and industry. It provides an essential springboard to enable New Zealand to stay at the forefront of primary sector innovation. Government and industry are co-investing $720 over time into 20 PGP programmes (2 completed, 17 underway, and one undergoing contract negotiation).

PGP programmes are generally long-run programmes of five to seven years’ duration and are subject to oversight and monitoring by an independent panel (the Investment Advisory Panel) and MPI.

Monitoring requirements include programme steering groups, quarterly progress reporting, annual plans, financial audits, and progress reviews, along with evaluation of the overall programme. Government funding is only released to programmes on receipt of invoices for work completed in accordance with programme plans.

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