As at 30 September 2019 the New Zealand Meat Board managed $75.9m of reserves. This includes a $55.3m contingency fund set aside for re-establishing New Zealand’s reputation in the wake of an international industry crisis, and $2.5m 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 being inflation adjusted as the reserve investments are transitioned into the investment fund managed by Jarden Partners Limited.
The remaining $18.1m is held in reserves and available for industry good projects by application from Beef + Lamb New Zealand Limited (B+LNZ). Industry good projects funded in 2019 were:
- Beef + Lamb New Zealand Genetics $1.8m (2018: $1.9m)
- a contribution to the Red Meat Ambassador in London representing New Zealand Meat Board in Brexit advocacy $149,000 (2018: $44,000)
- Red Meat Profit Partnership $3.15m (2018: $3.3m from capital reserves). This was the last year of funding B+LNZ for the Red Meat Profit Partnership.