November 22nd, 2024
Minister of Agriculture and Trade, Todd McClay, today highlighted the job creation benefits of trade access to overseas markets during today’s inauguration of Riverland Foods’ manufacturing plant in Christchurch. This state-of-the-art pet food factory is poised to underscore New Zealand’s competitive edge in the global market.
The big picture: The Minister underscored the significance of exports in the national economy, stating that one in four jobs in New Zealand is export-related, with rural areas contributing to 80% of the country's goods exports. The Riverland Foods factory, representing the company’s first foray into the Asia Pacific region, is set to become New Zealand’s largest export cannery for pet food.
Zoom in: Utilising innovative technology, the new facility focuses on producing high-value wet canned pet food, aiming to export 98% of its products. With a projected export value of over $120 million annually, the plant is a testament to the country’s growing influence in the international pet food market.
What they're saying: “It is great to see investment in value-added processing that supports the creation of jobs, diversifies the economy, and increases returns to primary producers,” McClay remarked. He emphasised the government's target of doubling the value of exports over the next decade and highlighted the rapid growth of the global pet food sector, expected to reach a valuation of $500 billion by 2030.
Driving the news: The global demand for premium, natural pet food products, coupled with New Zealand’s reputation for producing high-quality, safe food, positions the nation to leverage the booming pet food market effectively.
The bottom line: The Coalition Government's dedication to enhancing trade access and supporting businesses in utilising New Zealand’s esteemed production standards promises a brighter future for the nation’s economic landscape and job market.