June 19, 2007

Rabobank to partner with Aquaculture New Zealand

Rabobank is set to form an active and long-term partnership with Aquaculture New Zealand, a newly formed unified organisation for the aquaculture industry, said Ben Russell, Rabobank's general manager for New Zealand.

Being a lender to the aquaculture sector, Rabobank will support Aquaculture New Zealand, which according to Russell, was formed at a time when growth prospects for the aquaculture sector "have never been stronger".

With aquaculture production worldwide expanding at a fast pace and rapidly changing consumer demands, New Zealand's aquaculture sector faces both threats and opportunities, commented Russell. However, he expressed confidence that the opportunities far outweigh the threats.

As New Zealand's aquaculture sector is unlikely to compete successfully against aquaculture producers in China, Thailand and Vietnam in terms of lowest production cost, it needs to continuously differentiate itself through quality, sustainability and product integrity, said Russell.

Aquaculture New Zealand will play an important role in further development of the domestic aquaculture sector by providing investors good quality industry information to stimulate their confidence and hence rate of investment, Russell added.