A new strategy aimed at doubling New Zealand red meat export earnings was launched at Parliament on Wednesday evening.

The new strategy has been overseen by Beef + Lamb New Zealand and is designed to take the sector’s export earnings from it’s current $8billion a year to $14billion by 2025.

The meat industry is currently New Zealand’s second biggest export earner, behind dairying.

The strategy relies on cooperation from normally competitive companies in the industry, calling for co-opetition, or collaboration between rivals, to tackle production and marketing issues.

Chairman of Beef + Lamb New Zealand, Mike Petersen, says the report illustrates significant profit gains are possible at every stage of the red meat journey, from the farm to the market place, but he says its now up to those in the industry to make it work.

“We’re very excited about the document. We think it is fundamentally sound, it is the first time we have had industry and farmers come together with an unprecedented level of information and data and analysis.

“We have buy-in right through the value chain. We are confident it will come to fruition but the big thing that needs to happen is that individuals need to make the choice to make the change.”

Mike Petersen expects to see tangible results within three years.