America target for export

Press, 30 September 1988, Page 20

America target for export

The development of the North American market for livestock exports is a priority for a Hamiltonbased exporter, AEL Corporation, Ltd. During the last seven months, the company exported the first shipment of feeder lambs from New Zealand to the United States, sent feeder steers and breeding sheep to Canada and goats to the United Kingdom. The company has exported 30,300 sheep and cattle since December to markets in 25 countries. AF.T. Corporation has an interest in a feedlot/

quarantine facility in Portland, Oregon. The company is confident that U.S. Department of Agriculture quarantine regulations would be declared a non-tariff trade barrier under G.A.T.T., which would allow the feeder wether lamb trade to proceed more readily under new quarantine rules, The company recorded a profit of $876,948 for the eight months to June 30 and the chairman, Mr James Bull, said prospects for the next 12 months were good with a sound blend of investments and a range of animal con-

tracts already negotiated. New Zealand farming interests and staff own 100 per cent of the current shareholding in AEL Corporation with the majority held by Agfert, a farmer co-operative of 18,000 members. The company has built on the business started by Animal Enterprises, Ltd . (now in receivership and liquidation) but no physical or legal connection exists between the two entities. The recent trading activity of AEL Corporation and its subsidiary companies should by now

have demonstrated to clients that the group was capable of meeting its commitments and would continue to provide services required by the farming community, The company has 3700 Sahiwal cross cattle on hand and expects to buy 4500 Sahiwal cross calves later this year as a result of existing contracts. Ten farms in the South Auckland, Waikato and King Country regions are leased by the company and 11,000 head of Friesian cattle are run on leased land, agistment or buy-back contracts.