Created in 2013 to consolidate farm investment in the country’s livestock DNA research and innovation, B+LNZ Genetics will continue to be funded by the levy board beyond an initial five-year funding programme.
Financed in partnership with the Ministry of Business, Innovation and Employment, the livestock DNA research body is expected to generate NZ$742m ($505m) for the industry by the mid-2020s.
Long-term, the aim of the subsidiary is to “significantly improve” profitability through the improved productivity, efficiency and lower costs that could result from a better understanding of livestock genetics.
‘Simple’ decision to renew funding
“Our parent company’s continued support reflects the successful outcomes of the first five-year programme,” noted B+LNZ genetics chairman Dr Chris Kelly.
“These include the launch of Standard Indexes for commercial ram buyers, the establishment of the Trans-Tasman Beef Cow Profitability Programme and a massive upgrade of the New Zealand sheep breeding genetic evaluation system. On top of this, there has been a host of research, with findings being integrated into advancing genetic gain.”
B+LNZ chief executive Sam McIvor added: “The formation of B+LNZ Genetics was designed to deliver genetic services to the sheep and beef sector for the long-term, with the aim of significantly improving the sector’s profitability through optimal use of genetics.
“The organisation has achieved that and more during its initial programme, which made the decision to continue providing funding support a simple one. Alongside our levy payers – New Zealand sheep and beef farmers – we look forward to seeing B+LNZ Genetics continue to provide world-leading genetic innovations that will keep New Zealand at the forefront of the red meat sector, internationally.”