With meat industry by-products often being wasted or sold for a low value, a primary growth partnership has set to save find a way to add additional value to them.
Rennie Davidson, CEO of Food & Solutions at ANZCO, joins Rural Exchange to discuss what the ANZCO primary growth partnership has set out to achieve.
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The partnership, established in 2012, started to look how the meat industry could save more products derived from animals and market it to customers.
ANZCO looks at low-value products like animal fluids, blood products, and tiny pieces of tissue that can be saved and commercialised for the public.
“We’ve commercialised 22 new products so far,” says Mr Davidson.
Customer preferences prove to be the biggest challenge facing ANZCO. Sometimes, the customer isn’t ready for the product that’s been developed.
The USA and the EU have been pretty big for us.
ANZCO will have invested around $30 by the end of next year, and investment that farmers expect will eventually land in their pockets.
“We are certainly seeing some of that value flow,” says Mr Davidson.
While farmers may not feel the effects yet, Mr Davidson makes it clear that innovation is the first step.
“That’s going to benefit our collective futures,” he says.
Watch the full interview with Rennie Davidson above.