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OPINION: Fonterra is forking out $27 million to pay Victorian farmers to settle class action proceedings across the ditch.
The case arose from claims by several farmers in the state of Victoria that Fonterra had breached the terms of its supply contracts and misled suppliers when it moved to cut milk payouts in 2016.
The farmers claimed Fonterra's milk payout was based on meeting or exceeding those of competitor, Murray Goulburn, rather than in line with their supply contracts.
Murray Goulburn cut its forecast price by as much as 15% and shortly afterwards Fonterra moved to cut its payout by nearly as much.
The co-op says the settlement is made without any admission of liability.
OPINION: Not everyone will agree with former 'Minister of Everything' Stephen Joyce on his summation of Fonterra when writing recently about NZ's tendency to legislate for monopolies: "We allowed Fonterra to be created, with its near-monopoly over milk collectin, and have since been on a long journey of dissatisfaction with its performance up until quite recent times."
OPINION: A plug is overdue for Meat the Need, who is currently fundraising to help supply more meals to families in need.
Fonterra Brands' Cathy Lang has been crowned the country's best cheesemaker for the second time in three years.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
Humbling, overwhelming, and an absolute honour. That’s how 2024 Fonterra Dairy Woman of the Year Katrina Roberts describes her win at the Dairy Women’s Network conference earlier this month.
Hamilton-based Dairy Goat Co-operative (DGC) is revamping its leadership in the hope of recovering from its financial doldrums.
With just over two weeks left in the 2023-24 season, all eyes will be on Fonterra's opening milk price for the new season.
Fonterra Brands' Cathy Lang has been crowned the country's best cheesemaker for the second time in three years.
James and Debbie Stewart of Dairylands in the Manawatū are no strangers to taking home the silverware.
Troubled milk processor Synlait's share price is taking a hammering as nervous investors offload their stakes.
