The Queensland fruit fly is a threat to New Zealand produce
The Queensland fruit fly is a threat to New Zealand produce
The phenomenon these days known as the Maori economy pours more importance into how our economic and social fabric is developing.
Since Treaty of Waitangi settlements have come into play, a challenge for iwi has been winning confidence in business - dispelling challenges to the tune of, "You have themoney, what are you going to do with it?" mustn't be easy or welcome, but forging a future must be in the minds of everyone involved.
Recently we reported the $66million the Tuwharetoa Settlement Trust received in a Treaty of Waitangi settlement had fallen in value to $16million. An inquiry found bad loans and other poor investment decisions were responsible for the loss suffered by the trust, established in 2009 to handle a share of the landmark Treelords settlement.
But that pales in the bigger picture showing the importance of the Maori economy generally - and how iwi and mainstream business is likely to evolve.
EY Tahi, a Maori-focused advisory service, has big expectations for the Maori economy - valued at $40billion, its worth is predicted to increase to $100billion in the next few years. Big iwi settlements in Ngai Tahu, Tainui Waikato and Ngati Whatua in Auckland have amassed large asset and financial bases. This enrichment has become one of the avenues that engenders business confidence.
Bactrocera tryoni is the Queensland fruit fly and New Zealand's biosecurity measures are again being questioned after a few have been captured in Auckland in the past few days.
This is the fourth time the fly has been found in northern New Zealand since 2012. Adults lay eggs in ripe fruit, maggots hatch and tunnel through the fruit flesh and turn it into pulp. On a large scale this can mean massive losses for farmers.
New Zealand's $5billion horticulture industry, including the Bay's kiwifruit sector, has every right to be worried.
