The New Zealand government has approved funding for a new project looking at increasing value from beef carcases.
The government’s Primary Growth Partnership (PGP) has committed $43.5m over seven years to the Foodplus programme, which will focus on creating new products from the parts of the carcase that currently hold little value, with a focus on the food, ingredients and healthcare sectors. The project is worth $87m in total and is being run by ANZCO Foods.
Ministry for Primary Industries director-general Wayne McNee said: "Adding further value to the carcase is essential for the future success of the meat industry. ANZCO’s vision for Foodplus is relevant and bold, and now backed by a significant investment."
Rennie Davidson, CEO of ANZCO’s Food & Solutions division added: "It is a large-scale project that wouldn’t be achievable without collaboration. We’re excited about the potential that this will bring to the sector."