Feds make case for rural bank lending probe
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
Fonterra’s annual results announcement will increase certainty and security for dairy farmers, in what has been a positive week for the industry, say the Feds.
The continued upward trend of the Global Dairy Trade auction and the modest increase in the payout announced on Wednesday and now Thursday’s positive earnings result from Fonterra should help dairy farmers feel more confident about the future.
Federated Farmers dairy group chair Andrew Hoggard says although the announcements don’t mean farmers will be seeing “cheques in the mail” any time soon, it does mean they can have confidence in the direction of the industry.
"Farmers own Fonterra, and today’s result shows our co-op is performing strongly on the world stage."
It is particularly positive to see the cost-saving programme undertaken by the company has been effective and company debt has been significantly reduced.
"Fonterra’s profits are eventually returned to farmers, and are spent in the New Zealand economy, so this is positive news for all of us," Hoggard says.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
OPINION: Scientists claim to have found a new way to make a substitute for cow's milk that could have a…
OPINION: The Irish have come up with a novel way to measure cow belching, which is said to account for…