Wagyu SA in good financial shape; AGM Report (WSA AGM Financial report)

October 4, 2021

Financial Committee:
As the board representative of finances, together with the CEO, we are pleased to present the
financial report for the Wagyu Society of South Africa for the 2020–2021 financial year, ending
June 2021.

Executive summary:
The overall financial position of the WSA is positive with a profit of R395 000 and is supported by
a steady R 908 000 bank balance (growing in the money market account) at 30 June 2021. The
dampened membership growth, sponsorships and semen and royalties, has however meant that
mitigation steps have been put in place. As reported last year, the CEO now has a shared
responsibility with Wagyu and the Livestock Registering Federation (LRF). Due to Covid 19, the
board closed the office and it then reopened this year.

FROM THE CEO | VAN DIE UITVOERENDE HOOF

The recent news of yet another Foot and Mouth Disease (FMD) disease outbreak has come as a huge shock to the Wagyu industry. After much effort over the past year product is now also being exported to mainly the Middle East. The FMD announcement again reminds us of the importance of also developing the South African market and for industry to work with government to solve the problem. A video I circulated on our Whatsapp groups also explains the Southern African strain of F&M, that is not nearly as virile as the European strain and should in fact be treated completely differently by our importers.

In the last month I have visited a number of the leading retailers in South Africa to explain the Certified Wagyu Program (more of that later). They all assure me that despite a depressed economy demand is increasing and consumers enjoy the product, but it will require continuous education in a country that has traditionally been taught to purchase “lean” meat and to avoid fat.

In a recent Meat Standard Australia article titled “MSA 20 years: Genesis of a world class beef grading system”, the following statement is made “On raw appearance, domestic Australian consumers hated any sign of marbling or external fat. The more marbled the product, the more they rated it as ‘unhealthy’, regardless of external trim, and the worse they thought it would eat. When eaten in blind taste tests, however, the results were the exact opposite: the high marbling product scored best”.

The article further states: “Consequent meat science research started to unravel some of the mysteries about fat composition, discovering that the fatty acid profiles of the ‘marbling’ fat differed significantly from that contained in sub-cutaneous, or external fat. In fact marbling fat contained less saturated fats, and more ‘desirable’ mono-unsaturated and omega 3 and 6 fats”.

Whilst consumer perception is changing in South Africa it is clear from the above that there is still a lot of work to be done by our members to educate the South African consumer on the taste and the health benefits of monounsaturated fat (oleic acid in this case). The retail sector sells nearly 60% of all product over the weekend (mainly on Saturdays) and I even wonder if our producers should not be in stores on a Saturday morning to educate the consumer on the merits and health benefits of our excellent product.

On this topic, I trust you enjoyed Prof Dale Woerner’s talk on the CWB claim “experience authentic juicy and tender Certified South African Wagyu beef”. Note, this claim has been approved by SAMIC based on the Scientific evidence we were able to present from the University of the Free State.

Die onlangse nuus van nog ‘n uitbraak van Bek en Klouseer (B&K) is ‘n groot skok vir die Wagyubedryf. Na baie moeite die afgelope jaar word dié produk nou ook na die Midde-Ooste uitgevoer. Die B&K -aankondiging herinner ons weer aan die belangrikheid daarvan om ook die Suid-Afrikaanse mark te ontwikkel en dat die bedryf saam met die regering moet werk om die probleem oor die lang termyn op te los. ‘n Video wat ek op ons Whatsapp-groepe versprei het, verduidelik ook die Suider-Afrikaanse stam van B&K, wat nie naastenby so viriel soos die Europese stam is nie, en eintlik deur ons invoerders heeltemal anders behandel moet word.

Die afgelope maand het ek ‘n aantal toonaangewende groothandelaars in Suid-Afrika besoek om die Certified Wagyu-program te verduidelik (later daaroor). Hulle verseker my dat, ten spyte van ‘n swak ekonomie, die vraag toeneem en verbruikers die produk geniet, maar dit sal deurlopend nodig wees in ‘n land wat tradisioneel geleer is om “maer” vleis te koop en vet te vermy in te lig oor die voordele van die produk.

In ‘n onlangse artikel oor die MSA 20 jaar: Genesis van ‘n wêreldklas-stelsel vir vleisbeeste van Meat Standard Australia word die volgende stelling gemaak: “met ‘n rou produk en voorkoms haat Australiese verbruikers enige teken van marmering of eksterne vet. Hoe meer die produk gemarmer is, hoe meer het hulle dit as ‘ongesond’ beoordeel, ongeag die eksterne versiering, en hoe erger het hulle gedink dit sou eet in terme van sagtheid en smaak As dit in blinde smaaktoetse geëet word, was die resultate egter presies die teenoorgestelde: die hoë marmeringsproduk het die beste presteer en was die sagste gewees en die lekkerste gesmaak”.

Die artikel lui verder: ‘Gevolglike navorsing oor vleiswetenskap het begin om sommige van die raaisels oor vetsamestelling te ontrafel en ontdek dat die vetsuurprofiele van die’ marmerende ‘vet aansienlik verskil van die onderhuidse of uitwendige vet. Trouens, marmeringsvet bevat minder versadigde vette, en meer “wenslike” mono-onversadigde en omega 3- en 6-vette ”.

Terwyl verbruikers se persepsie in Suid-Afrika besig is om ook te verander, blyk dit uit die bogenoemde dat ons lede nog baie werk moet doen om die Suid-Afrikaanse verbruiker op te voed oor die smaak en die voordele vir die gesondheid van mono-onversadigde vet (in hierdie geval oliesuur) Die groothandelsektor verkoop oor naweke byna 60% van alle produkte (veral op Saterdae) en ek wonder selfs of ons produsente nie op ‘n Saterdagoggend in die winkels moet wees om die verbruiker op te voed oor die voordele en gesondheidsvoordele van ons uitstekende produk nie.

Oor hierdie onderwerp vertrou ek dat u prof Dale Woerner se toespraak oor die CWB-aanspraak geniet het. Die titel van sy lesing is “ervaar sappige en sagte, gesertifiseerde Suid-Afrikaanse Wagyu-beesvleis”. Let wel, hierdie eis is ook deur SAMIC goedgekeur op grond van die wetenskaplike bewyse wat ons van die Universiteit van die Vrystaat kon voorlê.

FROM THE CEO

Die onlangse nuus van nog ‘n uitbraak van Bek en Klouseer (B&K) is ‘n groot skok vir die Wagyu-industrie. Na baie moeite die afgelope jaar word die produk nou ook na …

Wagyu SA in good financial shape; AGM Report (WSA AGM Financial report)

FROM THE CEO | VAN DIE UITVOERENDE HOOF

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