Reserves

As at 30 September 2021 the New Zealand Meat Board managed $77.8 million of reserves. This includes the $62.8 million contingency fund set aside for re-establishing New Zealand’s reputation in the wake of an international industry crisis, and $3.04 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 -$6.1 million, representing unrealised losses from the investment fund compared to book value.

The remaining $18.1 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 2022 were:

• Beef + Lamb New Zealand Genetics $0.9 million (2021: $1 million).