We are pleased to let you know about some important independent research highlighting the value of the Red Meat Profit Partnership to the wellbeing of the industry.
An evaluation by Scarlatti Limited has concluded that the productive benefits of the RMPP programme will lift annual total farm profit before tax by a further $96.4 million by 2025. The benefits continue beyond that point, meaning that for every $1 dollar invested, RMPP will return $17 in value.
Farmers have been telling us for some time about how RMPP has helped them access information and support so they can make more informed decisions for the benefit of their businesses.
Additionally, what this independent evaluation clearly demonstrates is the range of real and tangible benefits that RMPP has delivered both behind and beyond the farm gate and in rural communities across New Zealand.
RMPP’s projects such as the Action Network and the New Zealand Farm Assurance Programme wouldn’t have been achieved without RMPP programme investment and coordination.
Farmers and red meat sector businesses have successfully developed, tested and introduced new ways of engaging with information and technology. Farmers are adopting more effective measuring and monitoring to support informed decision-making and are increasingly using digital farm management tools.
Hundreds of like-minded farmers who are working together alongside trusted experts in facilitated small groups now have the confidence to put their ideas into action.
RMPP has never been about telling farmers what to do. It has been about creating an environment where farmers can learn from each other, share what works, embrace change and make better decisions for the future of their business, their family and New Zealand.
Farmers want to do well to support their families and their way of life, and when farmers are doing well, New Zealand does well.
- According to the research by Scarlatti Limited, farms participating in the RMPP Action Network will, on average, increase profitability by $17,712 per farm, each year. When averaged across the sector, including farms that gain a 'spill over' benefit and farmers that do not benefit, the impact of the Action Network is to raise profitability by $46 million across the entire sector, by 2025.
- The impact on profitability for farmers participating in training programmes varies depending on whether they’re engaging with an e-learning module or undertaking a multiday training workshop. The aggregate impact of all training courses, including farmers that gain a 'spill over' benefit and farmers that do not benefit, is to raise industry profitability by $18.5 million across the entire sector, by 2025.
- In 2025, the increase in profitability resulting from RMPP's investments in talent attraction will be $3.15 million across the entire sector.
- The Electronic Animal Status Declaration (eASD) technology is saving farmers, livestock representatives and meat processors’ time and reducing costs. In 2025, the eASD development is projected to be generating an annual economic benefit of $6.69 million across the industry.
- In 2025, the New Zealand Farm Assurance Programme (NZFAP) is projected to be generating an annual economic benefit of $0.9 million across the industry.