You are using an older browser version. Please use a supported version for the best MSN experience.

Primary sector urged to embrace change

NZ NewswireNZ Newswire 14/06/2016

New Zealand's primary sector has been given a stark warning - adapt or die.

It comes in a report into what the future holds for the sector in what's being dubbed the fourth industrial revolution.

New Zealand's primary sector must be prepared to completely transform itself because the future will look radically different in five to 10 years' time, said KPMG's global head of agribusiness Ian Proudfoot.

"What has delivered us success in the past will not bring success in the future," he said after the release of the KPMG's Agribusiness Agenda.

It tapped into the thoughts of more than 150 leaders for the report which came at a time when the dairy downturn had focused minds on the future.

It says the agri-food sector at the centre of change by the combination of new digital and biotechnologies with traditional physical practices.

"Change will be coming at speed from all quarters; including innovation from competitors, new disruptors entering the market, and changes demanded by our consumers," said Mr Proudfoot.

While biosecurity was ranked the highest priority for the sixth time in a row, a recognition that doing what was right by the environment was acknowledge.

Mr Proudfoot said looking at the best way to market innovations was also rated highly.

"There's no shortage of good ideas in New Zealand - but we often lack the commercialisation skills to take the solution from the lab to the world market," he said.

image beaconimage beaconimage beacon