New Zealand-Lamb crisis.

NEW ZEALAND.

LAMB CRISIS.

Silver Fern Farms, CEO Keith Cooper, has grave concerns about the future of the New Zealand lamb industry." There is no formula as to what is going to happen and it all adds up to less spending capability by consumers and down trading on what they do spend", according to Cooper.

Cooper went on to say that "we are reliant on the markets of Europe and America who are in the center of the financial upheaval". New Zealand are now looking at the markets of the Middle East and China for beef and lamb exports.

New Zealand is officially in an economic recession, according to financial analysis, the meat industry has seen 3 large meat export plants close in recent months.

The proposed merger, of the countries two largest meat companies, came to nothing in September last year after months of negotiations.

Perhaps the biggest blow to NZ, was the closure of the Canterbury Lamb Plants, that had been in operation since 1894, and was the home of the world famous Canterbury Lamb brand, known all over the world as the best of New Zealand lamb.