26 Jul 2012

Call for more investment in agrifood sector

2:00 pm on 26 July 2012

An independent report into agrifood says $1.5 billion of investment is needed on an annual basis for the next 13 years to boost the sector.

The report has been commissioned by the Riddet Institute, a research partnership of industry and academic organisations.

It says the agrifood sector has become a cornerstone of New Zealand's economy and the country's largest single export sector for the past 100 years.

The institute says the industry and the Government need to collaborate more to get better outcomes for the sector. It wants to treble the value of exports by the sector to $58 billion by 2025.

The Riddet Institute says there has been a lack of action to develop a national strategy for the sector and believes more needs to be done urgently to improve New Zealand's economic outlook.

New Zealand has unrealised potential in agrifood and all parts of the sector need to work together to maximise that, it says.