$15m investment in sheep and beef genetics
Science and Innovation Minister Steven Joyce today announced a $15 million investment over five years into advances in genetics research that will improve the profitability of New Zealand’s sheep and beef sector.
A new partnership, Beef + Lamb New Zealand Genetics, will also bring together New Zealand’s existing sheep and beef genetics research by consolidating Sheep Improvement Ltd, the Beef + Lamb New Zealand Central Progeny Test, and Ovita. Total funding for the new project from government and industry sources will be up to $8.8 million per year.
“Science and innovation are major drivers of economic growth and international competitiveness. The Government is committed to ensuring we invest in purpose-driven research that benefits New Zealand,” Mr Joyce says.
“Genetic improvement in the sheep industry has contributed greatly to farm profitability, and for every dollar captured on farm, another 50 cents is captured off-farm. In just 10 years Beef + Lamb New Zealand Genetics expect that farmers will receive $5.90 extra profit per lamb sold at that time.”