Grant offers Comvita further research potential
recognition of its business development to fast-track plans to link
the propolis science communities of Japan and New Zealand.
New Zealand-based Comvita says it will use a grant received in recognition of its business development to fast-track plans to link the propolis science communities of Japan and New Zealand.
The company, which makes natural health products derived from honeybees, won this year's 'Consumer Products Exporter of the Year' award at the Trade New Zealand Export Awards held in Christchurch last week. The award entitles Comvita to undertake an international business exchange.
The award includes a grant, valued at NZ$9000 (€4438), which allows the winner to send a staff member overseas or bring an international expert to New Zealand, to improve global competitiveness and foreign exchange earnings.
Comvita's CEO Graeme Boyd said: "Propolis, which is a unique by-product of the honeybee, accounts for a significant portion of our exports - especially to Asia."
"We have been developing the idea of linking New Zealand scientists withtheir Japanese counterparts to conduct research into the immune-supportingproperties of propolis. The Business Internationalisation Grant may well gotoward this."
Presenting the award, CEO designate of New Zealand Trade and Enterprise, Tim Gibson, said it was a reflection of Comvita's entrepreneurial spiritand business acumen.
Boyd said Comvita exports have been growing at 50 per cent per annum since the late1990s. "Last year, exports officially accounted for around half our sales, but inreality about 75 per cent of our products end up offshore - the balance eitherexported by other enterprises or taken home by international tourists."
The company has seen rapid growth in exports to Australia sinceComvita entered that market in 1999. With annual sales of about NZ$2 millionlast year, Australia is now its largest export market. The UK market is aclose second with large sales of manuka honey and remarkable success withManukacare 18+ active manuka honey, a topical application for wound care.
Sales throughout Asia are also growing strongly - boosted recently as Asianconsumers reached out for products such as propolis to build up theirimmunity against the Sars virus.
Last year, Comvita established its first wholly owned subsidiary in Japan, part of its strategy to become more involved in its offshore markets inorder to maximise export opportunities and control its future. To finance its growth, the company also entered the Unlisted SecuritiesMarket with 130 shareholders investing in the business.
