Frozen deer velvet exports to China can resume with immediate effect after the Ministry for Primary Industries reached agreement with Chinese authorities on terms to unlock a ban imposed last November.
The trade was worth about $88 million a year at the time, representing 71% of deer velvet exports.
In a statement, Deer industry New Zealand chief executive Rhys Griffiths said it was a good result for the industry.
“With this comes certainty that trade can continue for our largest velvet export market this season.”
Deer velvet is used in traditional Chinese medicine.
New Zealand consented more properties in September, as lower interest rates start to flow through the economy and confidence improves.
Statistics NZ data out today showed the seasonally adjusted number of new dwellings consented rose 2.6% in September, after falling 5.2% in August.
There were 2943 new dwellings consented in September, led by: stand-alone houses; townhouses, flats, and units; apartments; and, finally, retirement village units.
On an annual basis, the actual number of new dwellings consented was 33,677 in the year ended September, down 17% on the previous year.
The annual value of non-residential building work consented was $9.1 billion, down 6.4% on the previous year.
Yesterday, ANZ’s business confidence survey improved again, while inflation expectations nudged slightly lower.
ANZ chief economist Sharon Zollner said “steady falls” in interest rates were injecting new optimism into businesses.
However, she noted activity and employment levels were still subdued.
Foreign Minister Winston Peters will visit Australia next week to attend the Raisina Down Under conference in Canberra, which will also involve Australian Foreign Minister Penny Wong and Indian Foreign Minister S. Jaishankar. “Australia and India are both very important Indo-Pacific partners for New Zealand, and we look forward to discussing at this conference regional trends and cooperation. Participation in this conference is part of the New Zealand Government’s efforts to step up its engagement with India for mutual benefit,” he said. But first, Peters, with his Racing Minister’s hat on, will visit Melbourne and attend the Melbourne Cup on Tuesday as guest of the Victoria Racing Club.
Listed pharma company AFT Pharmaceuticals, 68.69% owned by NBR Listers Hartley and Marree Atkinson, expects to record an operating loss of just under $2 million for the six months to September 30.
That was because international and Asia sales were both down on last year's first half, the company said in a statement to the NZX on Friday.
"Sales to International markets dropped due to a reduction in orders from several of our largest customers who have been re-sizing stock levels and AFT notes that this has not affected in-market sales. In Asia, a doctors strike in South Korea, which has now been resolved, significantly [impacted] Maxigesic IV sales.
Sales and operating profits in Australasia, however, were said to have experienced double-digit growth despite subdued economic conditions.
It also expected a recovery in sales momentum in the second half.
The company will announce its full interim results on November 21.