Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
The new Southern Dairy Hub in Invercargill will start milking cows next season.
The 349ha property will run 640 cows next season but plans to increase cow numbers to 800.
AgResearch and DairyNZ have each paid $5 million towards the venture and the Southern Dairy Development Trust, made up of farmers, has put in $1.25m.
AgResearch chairman Sam Robinson says the organisation has played a key role in developing the property at Makarewa, 15km north of Invercargill. The new facility will be made up of two independently owned adjoining beef and sheep farms.
“The plan is to convert the existing farm operation into a dairy farm this season and then supply Fonterra at the start of the 2017-18 season. It will initially milk 640 cows but that will increase to around 800 cows,” Robinson says. “It will further the science developments in the sector.”
DairyNZ chair Michael Spaans says its investment in the hub reflects the importance of dairying in the south and is a prompt for innovation, industry-led research and education.
“The hub will provide relevant, up-to-date local research for Southland dairy farmers. [Now comes] the development phase, and farmers will see research getting underway next season.
“This is a key project for DairyNZ and Southland dairy farmers will gain a lot of value from it.”
The hub project recognises that dairy farming techniques used in other parts of New Zealand are not easily adapted in Southland, given its unique landscape, climate and soil types, DairyNZ says.
Matthew Richards, chair of the Southern Dairy Development Trust, referred to the region’s long dairying history and its important role in the community.
“This development will help southern farmers further increase farm efficiency, productivity and sustainability, and thus continue to enhance the wider southern region.”
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.
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