Head of AgriTech & BioTech at BNZ Nic Cameron says one of New Zealand agritech’s biggest growth opportunities lies in horticulture, not the animal exports the sector is known for.

“When you extrapolate the data globally, New Zealand typically has a gravity towards large animal exports,” he says.

“Internationally, that’s actually inverse, it’s about 75% exports in horticulture and 25% large animals.”

Bank of New Zealand has funded the sector for more than a decade, moving from a single software-as-a-service company to 7500 bankable technology customers and expanding from software into hardware, automation, robotics and AI.

“One of the real opportunities for us as a bank is not necessarily to grow more technology; I think that’s going to occur organically, but it’s actually to support and assist those companies when they’re ready to scale up and compete internationally.”

He says a product that works at home is expected to work abroad, especially when backed by a trusted brand in export markets.

“New Zealand has a really diverse ecosystem to be able to test that technology in.”

“Farmers are not necessarily looking for a fundamental or innovative solution — they’re after a solution that’s going to solve today’s issues at a viable price.”

Data is being collected off farm at an ever-increasing rate, driven by suppliers, production curves and compliance.

“The question is what do we do with that data, and how do we actually make it work best?”

Good data is also opening new revenue opportunities, from natural capital and biodiversity markets to the methane-reduction products backed by new government funding.

“There’s a strong demand and desire to get there, and part of that is around maximizing the returns for farmers.”

Getting technology on farm is capital-intensive, and with balance sheets stronger than ever, the bank is weighing how to structure the spend.

“Are there alternative ways to actually put that capital onto farm?”

His message to farmers weighing which tools to back is to bring the business case to the bank, where the best return on capital can be worked through together.

“Having that conversation with your banker is always critical.”

For over 160 years, BNZ’s Agribusiness Partners have worked alongside farmers, bringing the expertise to support them through the seasons. To see how that support can work for you, speak to your local partner. Search BNZ Agribusiness.

This article is solely for information purposes. It’s not financial or other professional advice. For help, please contact BNZ or your professional adviser. Opinions expressed are those of the speakers and not necessarily of BNZ. No party, including BNZ, is liable for direct or indirect loss or damage resulting from the content of this interview.

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