Reserves

As at 30 September 2023 the New Zealand Meat Board managed $79.3 million of reserves.

This includes the $66.3 million contingency fund set aside for re-establishing New Zealand’s reputation in the wake of an international industry crisis, and $3.1 million for quota jeopardy – a situation where New Zealand’s quota arrangements are threatened by the actions of a quota market authority or quota holder. These funds are inflation adjusted.

The investment fluctuation reserve had a value of -$9.1 million, representing unrealised losses from the investment fund compared to book value and inflation adjustments to the contingency and quota jeopardy reserves.

The remaining $19.0 million is held in reserve as retained earnings.  

Income (interest and dividends) after reserve management expenses are available for industry good projects by application from Beef + Lamb New Zealand Limited (B+LNZ).

Industry good projects funded in 2023 were:

• Beef + Lamb New Zealand Genetics $1.4 million (2022: $0.9 million).