Tariffs and quota restrictions on deer antlers will be lifted starting 2025 according to the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC).
ANZTEC is a comprehensive agreement enacted in December 2013 that facilitates trade in goods, services, and investment between the two markets. In response to this agreement, Taiwan’s Agriculture Ministry Livestock Research Institute has been assisting the New Zealand deer husbandry industry and, 11 years later, has announced its readiness to import the resulting product of their cooperation.
Deer antler velvet is touted as a natural agent that boosts strength and endurance, improves immune system function, counters the effects of stress, and promotes rapid recovery from illness. The commodity is available in drink, jelly, and tablet form. Currently, each domestically-produced deer yields velvet once a year for 10 years with an average market price of up to NT$1,000 (US$31) per tael (38 grams), making it a high-unit-price product.
Animal Research Institute Director Huang Chen-fang (黃振芳) pointed out that New Zealand’s deer numbers are one hundred times that of Taiwan, requiring half as much capital to produce the commodity. He elaborated that when these large-scale imports are exempted from quota restrictions next year, Taiwan's husbandry companies will definitely be affected. Huang suggested domestic industry players lean into research and development for pharmaceutical, cosmetic, or food manufacturing.