Board chairwoman Kate Acland, speaking at the board’s annual meeting on March 15, said the savings comprised $609m for EU and UK sheep meat and goat meat, $6.8m for EU high quality beef and $317m for US beef and veal.
The board’s administrative role had expanded significantly since the board’s establishment more than a century ago, she said.
"The NZMB has been working in the background for more than a century, ensuring seamless market access for our goods, and it’s also been funding industry good projects for many years.
"Prior to the UK’s exit from the EU, the board administered three World Trade Organisation quotas.
"Two quotas were added following Brexit and a further two as a result of the NZ-UK Free Trade Agreement. A further three quotas will be added when the NZ-EU FTA enters into force, bringing the total to 10 quotas."
There was strong interest in beef access under the new tariff free UK FTA beef quota, delivering positive signals into this market, she said.
More than 1700 tonnes entered under this new quota with tariff savings of $9.9m between May and December 31 last year, she said.
"Preparation for the EU FTA is under way and it is anticipated implementation requirements can be concluded for entry into force by mid-2024."
Board chief executive Sam McIvor said the board’s work during 2023-24 included planning to establish the management systems for administering the new FTA quotas.
The board also administered significant farmer reserves, currently standing at $79 million, held as a contingency fund to help New Zealand re-enter export markets in the event of a biosecurity incursion or disruption in quota markets.
Interest from this fund is used for industry-good projects.
