The resolution was passed with 77 percent support from the 2,746 participating votes, Electionz.com, which managed the vote on behalf of B+LNZ, has advised. The weighted total percentage represents 21.3 percent of the potential total weighted vote, based on sheep (31.2 million head), beef (3.74 million head) and dairy (6.46 head) livestock numbers at 30 June 2012.
The positive vote paves the way for the Red Meat PGP programme to proceed says B+LNZ chairman Mike Petersen. B+LNZ was given approval by its board in Wellington today to commit existing reserve funds towards the programme.
“This is a strong endorsement for the programme which has the ability to take the sheep and beef sector to the next level,” he says.
“It is particularly pleasing that farmers have supported this unprecedented red meat sector collaboration with six meat companies, two banks and a professional services firm – with the potential to transform the sector.
“The next step is the development of the contract between the Crown and the partner group and we hope that we can get on with delivering the programme activities in the second half of this year.”
The Government has agreed to commit $32 million, industry partners $13 million and the farmer share of the $65 million project is $2.8 million a year or $19.7 million over seven years.
This is the fifth meat industry project to be added to the PGP programme, bringing investment from industry, farmers and government to a combined total of a nearly a third of a billion dollars aimed at re-shaping parts of the industry along the lines of the Red Meat Sector Strategy.