Strong Milk Price Boosts PGG Wrightson Earnings
Strong farmgate milk price is helping boost investment on farms, says PGG Wrightson chief executive Stephen Guerin.
Primary Growth Partnership (PGP) funding was announced today to pay for half of a $14 million research programme to deliver better seeds and plant species for farmers.
Proprietary seed company PGG Wrightson Seeds is leading the programme, working with a number of research organisations.
The PGP is committing $7.15 million over six years for the programme worth $14.6 million in total.
MPI Director-General Wayne McNee announced the funding for the new Seed and Nutritional Technology Development programme.
"The Seed and Nutritional Technology Development programme works on many fronts to ensure farmers will have access to the best pasture and forage crop technologies," McNee says.
"We are pleased to see innovative approaches that will address current challenges such as improving feed conversion efficiency, as well as taking the opportunity to mitigate environmental challenges such as soil erosion and drought stress."
Dr Derek Woodfield, general manager – research and development of PGG Wrightson Seeds, welcomes the funding announcement and says: "The PGP funding will allow PGG Wrightson Seeds and its research partners to focus on delivering a suite of new technologies that will keep New Zealand farmers internationally competitive."
Primary Industries Minister David Carter has welcomed the successful PGP bid which lifts the total allocated to around $600 million.
"In just three years, the PGP programme has worked with industry to develop some of the most exciting primary sector research and innovation proposals New Zealand has ever seen," says Carter.
"Co-funding of these projects by government and industry is what PGP is all about – a joint commitment to growing our economy through greater investment in R&D."
The PGP programmes currently underway cover sectors including wool, red meat, dairy, seafood, manuka honey and forestry.
State farmer Pāmu says a programme it's running to help skilled operators into farm ownership is paying dividends.
Central Otago farmer Bevan McKnight no longer worries about leaving a few Angus cattle behind while mustering on the 13,000ha station he leases.
Livestock Improvement Corporation (LIC) and the Ag Emissions Centre have completed the latest phase of a mult-year methane research project, providing important insight into the role genetics may play in reducing gross emissions.
A lavish signing ceremony in Delhi has cemented in place a deal that will have massive economic benefits for some of NZ's key primary exports - notably forestry, horticulture, sheepmeat and wool.
Fonterra has announced interim changes to the leadership of its Global Ingredients business.

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