Working out how more value can be generated from beef carcases will be the aim of a new programme co-funded by the Government.
Ministry for Primary Industries director-general Wayne McNee announced today the Foodplus programme, run by ANZCO Foods, has been approved for co-funding from the Primary Growth Partnership (PGP) fund.
The fund is committing $43.5 million over seven years to the programme, which is worth $87m in total.
The programme will identify opportunities to create new products, with a particular focus on the parts of the beef carcase that generate less value.
"Adding further value to the carcase is essential for the future success of the meat industry," Mr McNee said.
For the year ending June 2012, red meat exports were worth $6.1 billion to the New Zealand economy.