In December, China adopted a law that will give traditional Chinese medicine (TCM) a bigger role in the medical system. This is expected to be to the long-term benefit of producers of premier Chinese medicine ingredients including deer velvet.
Stock agents are expecting last year’s strong demand for weaner deer for finishing to continue at sales this autumn – but the supply of weaner females for breeding is likely to be limited while the national herd rebuilds.
Increasing quantities of NZ velvet are now being bought by overseas customers, with farmers receiving around $100 a kilogram. Deer Industry NZ believes up to 200 tonnes of the expected 620 tonne crop has now been sold.