19 Oct: 11:15 | A government scheme giving away mānuka seedlings could threaten future earnings from the trees according to botanists who say enthusiasm for planting is getting ahead of scientific understanding.
Unitec associate professor Peter de Lange has been researching New Zealand mānuka and suspects there are at least three different types of mānuka in New Zealand, each with possible different properties.
“Mānuka honey as an industry is going to make us quite a lot of money but in fact there are chemical compounds, essential oils in particular, that are way, way more valuable than mānuka honey.”
De Lange said the safest way to ensure qualities are kept is to only plant mānuka where the seeds have been “eco-sourced”. Eco-sourcing means seeds have been sourced from the same area as where seedlings will be planted.
Horticulture New Zealand is thrilled that mandatory Country of Origin labelling for fruit and vegetables got a step closer today, with the second reading of the Consumers’ Right to Know (Country of Origin of Food) Bill passing in Parliament.
Pretty mixed night in the markets. Stocks are off again, which is not helping risk sentiment. The Fed came out saying that they still think gradual rate hikes are appropriate, which helps keep the USD bid.
UK Retail Sales m/m missed, coming in down 0.8%, compared to -0.4% expected. This is a pretty volatile data point, but still not great. Brexit news continues to come in mixed, with the latest being that Teresa May has floated an idea to extend the Brexit transition period. This was perceived relatively negatively by the market, as it does not imply that a deal is close. One insight to come though, is that if we do get a “No deal” it is not really going to be marketed as such. It will likely will be labelled as an extension to talks (which are going very positively of course), and a way to get the best deal possible, rather than rushing something through half finished. This therefore makes one think that risks are potentially a little skewed. A positive deal would see a very sudden increase in the Pound, but the lack of a near term deal would possibly be a longer term, slower sell off.
Going forward today, we have a slew of Chinese data out at 3:00 PM NZT. Generally Chinese data does not come in with too many surprises, but will be closely watch by Australia nevertheless.
There is a Bank holiday in New Zealand on Monday, so while we will be open to deal, clients with urgent payments will want to make sure they are settled today.
Gold prices are up to $1,230 an ounce. WTI Crude Oil prices are off again, down 2.0% to $68.70 a barrel.
Upcoming Data releases (NZST): - 15:00 - CNY GDP, Industrial Production - 01:30 - CAD CPI, Core retail sales
How much does your FX cost you?
We are partners of MSCNewsWire and assist many of their readers, partners and clients to manage their foreign exchange requirements more effectivly and effciently. Benefits that our clients receive include:
√ Better Exchange rates √ No TT fees √Access to ur global payment network √24/7 online platform and a personal dealer
As NZ's largest non-bank FX provider and "The World's Trusted Currency Authority" we can quickly and simply provide you a Free and No Obligation alternative to work alongside your existing bank relationship.
If you would like to discuss please feel free to contact Doug Warren from the XE team anytime:
Daimler Financial Services, the financial and mobility services arm of German car maker Daimler, has taken an unspecified "strategic investment" in New Zealand company Soul Machines, which has produced a digital-created human face able to speak text with intonation and facial expressions.