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ANZ Encourages Kiwi Businesses To Seize Export Opportunities
As India and New Zealand re-launch trade talks ANZ is encouraging businesses to seize the opportunity and explore exporting their products and services.
"For businesses in a position to explore export opportunities this is an exciting time,” says Lorraine Mapu, ANZ’s Managing Director for Business and Agri.
“When we look across our business customers we can see that those who are exporting are doing better in the current economic environment.
“Exporting not only diversifies your market but also strengthens your business resilience.”
Ms Mapu says a number of ANZ customers had already successfully ventured into the Indian market.
“At ANZ we’re committed to helping businesses grow, thrive and trade with the world.
“As a partner to hundreds of large and small export businesses across the country, we can provide insights and expertise to connect businesses to key export markets.”
Ms Mapu said while our large export earning sectors were vital to the New Zealand economy, it was important not to lose sight of the important role smaller businesses in different sectors play in growing our export earnings.
“Winseed International is a fantastic example – they have quickly grown to be our largest seed exporter to India, with around 9 billion beetroot seeds exported annually,” Ms Mapu said.
Winseed International specialises in the breeding and marketing of high-quality hybrid vegetable seeds for crops like beetroot, radish, carrot and peas.
The company, led by CEO Tom Sherratt, undertakes research to develop new varieties of vegetables which have more desirable traits for growers and consumers.
Winseed began operations in 2014, initially focused on producing and trading seeds – but after purchasing or developing several proprietary hybrid varieties, they began to enhance their exporting around 2019.
The Canterbury company has now secured over 60% market share in the Indian hybrid beetroot market, with a team of about 50 people in New Zealand, India, and more recently, Egypt.
“Our operation in India provides us an opportunity to scale our plant breeding research and marketing so that our products reach more growers and consumers across India,” Mr Sherratt said.
“We’re taking our plant breeding global, not just relying on the one site here in New Zealand, which is exciting because we’re starting to breed products specifically for the Indian market.”
Developing their own vegetable varieties allows Winseed International to hold the intellectual property for those hybrids, paving the way for enhanced growth and revenue.
“The value of intellectual property as an export commodity for a small country like New Zealand is immense – it provides avenues of scalable long-term growth,” Ms Mapu said.
Ms Mapu acknowledged breaking into export markets could be challenging and emphasised the support available not only from ANZ, but from various organisations to help businesses navigate the complexities of exporting.
“We’re part of the wider ANZ Group, which spans close to 30 global markets, operating in geographies that represent 75 per cent of global trade flows.
"Organisations like the Ministry of Foreign Affairs and Trade (MFAT) and New Zealand Trade and Enterprise (NZTE) offer invaluable resources and guidance - they can assist with everything from understanding market access to overcoming trade barriers."
In the ten years between 2014 and 2024, New Zealand vegetable seed export revenue has increased by 87 per cent, going from $66 million to $124 million, according to Stats NZ data.
Winseed has made a large contribution to that number
Mr Sherratt emphasised the importance of understanding international market rules and regulations, adding that industry associations can be a gold mine of expertise to tap into.
"We've had a fair few hurdles to clear along the way," Mr Sherratt said. "A bit of patience is needed and you've got to go and meet the people there - and look at what the market needs – but it’s worth it in the end.
"Working with organisations like Seed and Grain NZ, alongside MFAT and NZTE, has been instrumental to our success - their expertise and connections have helped us navigate the complexities of market access and expand our reach."
As New Zealand businesses look to the future, Ms Mapu encouraged them to consider the vast potential that exporting offers.
"The world is full of opportunities, and with the right support and resources, New Zealand businesses can achieve great success on the global stage."
For more information on how ANZ can support your business's export journey, visit ANZ's International Trade page.
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