Landcorp, which is the leading farmer body in the country, has joined a new program worth $321 million that aims to renovate the meat industry. This program is another part of a meat and dairy investment program, and is to protect the dry-stock farming sector. Both the industry and the Government will be parting the price of this new program.

Out of the entire agenda, $151 million is aimed for the meat program, which is being supervised by Silver Fern Farms, PGG Wrightson and Landcorp Farming. And of this total amount, $59.5 will be granted by the Government’s Primary Growth Partnership for next seven years.

For Landcorp, the main part in this program will target the livestock genetics and developing the database.

This program is being run to enhance a market driven approach and to hence, focus on the consumer needs. It is being projected that by the year 2025, this meat industry will amplify the annual exports to $2.3 billion.

If the meat Companies and the framers wish to stop the deteriorating returns and stock numbers, then both of them will need to transform the way they function, says Landcorp Chief Executive, Chris Kelly.

In addition, Silver Fern Farms Chairman, Eoin Garden said that the present meat industry model has been destroyed. He added, “We know it's not working and it desperately needs fixing”.