The deer, and specifically their antlers, are the source of the niche industry of velvet antler, a bizarre mix of twenty-first century Kiwi agri-tech and ancient Chinese medicine that's been around for 2000 years.

It's an industry that earns the New Zealand economy upward of $70 million a year; small fry by the country's agricultural standards but one that is growing, says Dan Coup, chief executive of Deer Industry New Zealand (DINZ), the leading organisation monitoring the deer velvet industry.

Prospects for the velvet market during the 2018-19 season are expected to be reasonably stable, says Deer Industry NZ (DINZ).

It says apart from a brief downward dip in prices two years ago, driven by uncertainty about regulatory changes in China, NZ velvet production and prices have increased for eight years. The outlook for this season sees consumption in Asia increasing in line with production growth in NZ

Record high venison and velvet prices are expected to remain stable this season but the deer industry is warning the upward trend won’t continue forever.

Apart from a brief downward dip in prices two years ago, driven by uncertainty about regulatory changes in China, New Zealand velvet production and prices have had a buoyant eight years.

And on the back of reasonably stable consumption in Asia increasing in line with production growth in NZ, the velvet market this season is expected to hold up.

But Deer Industry NZ Asia manager Rhys Griffiths cautions the trend cannot continue forever. 

The deer velvet industry is forecasting slightly higher production levels for the 2018-19 season, which got underway this month.

As well as farming for venison, many of the approximately 1500 deer farms in New Zealand harvest antler velvet and export it to Asian communities, who believe it has healing properties.

Last season, about 700 tonnes of velvet was exported at a value of $64.7 million - compared with $27m in 2014, and $58.7m in 2017.

Deer Industry New Zealand's market manager for Asia, Rhys Griffiths, said the season just started was expected to be reasonably stable, with consumption in Asia increasing in line with production growth in New Zealand.

The velvet market is expected to be reasonably stable during the 2018-19 season, as consumption in Asia increases in line with production growth in New Zealand.

Apart from a brief dip in prices two years ago driven by uncertainty about regulatory changes in China, New Zealand velvet production and prices have increased for the past eight years.

Deer Industry NZ (DINZ) Asia manager Rhys Griffiths cautioned that trend could not continue indefinitely.

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