A new report issued by the ANZ bank suggests that New Zealand stands to capture up to $1.3 trillion more in agricultural export earnings between now and 2050, if it can become a food bowl for Asia.
The report aims to quantify the opportunities for agriculture as a result of the shift in global economic growth to Asia and the increasing demand for protein there and in other emerging economies.
ANZ said the potential rewards are immense, but getting there won't come cheaply, with an investment of upwards of $200 billion required, over four decades.
As well as capital constraints, the report identified barriers such as skill shortages, land and water-use issues and unfocused research and development.
