Fonterra to offload iconic brands
Fonterra says the sale of its global consumer business and its Oceania and Sri Lankan operations could take 18 months to complete.
Fonterra is in damage control as its export markets react to potentially contaminated whey protein concentrate ending up in infant formula and other dairy products.
The co-op's chief executive Theo Spierings has flown to China to meet with customers and regulatory authorities. Spierings will hold a media briefing in Beijing on Monday morning to quell a backlash among Chinese consumers.
Chinese authorities have reportedly banned New Zealand dairy products. The Russian Government has issued a statement halting all trade in dairy products from NZ.
Fonterra managing director NZ Milk Products Gary Romano told a media briefing in Auckland this evening that there were "unconfirmed reports" of bans in China and Russia.
Romano says the co-op will be in touch with authorities in both countries to seek clarity.
The New Zealand Government has also stepped in. Fonterra chairman John Wilson and Romano met Trade Minister Tim Groser and Science and Innovation Minister Steven Joyce in Auckland last night.
But the co-op has refused to say what was discussed. Fonterra's group communications director Kerry Underhill says the meeting was ''frank and constructive''. But he declined to say whether the ministers questioned him on how long it took for the issue to emerge.
Fonterra announced on Saturday that a dirty pipe at its Hautapu plant in the Waikato might have contaminated three batches of a whey protein called WPC80 with bacteria that can cause botulism, a potentially fatal illness.
Several Fonterra customers have recalled their products. About 38 tonnes of contaminated WPC80 was sold by Fonterra.
Plans are in place to celebrate the 100th anniversary of the legendary Flock House opening its doors for the first time.
The mood in horticulture is cautiously optimistic, according to the chair of Horticulture NZ, Barry O'Neil.
New Zealand’s major primary industry exporters have secured shipping capability to export $160 billion worth of products over the next 10 years.
The mood in the deer industry is very positive and on an upwards trajectory.
Trade and Agriculture Minister Todd McClay says the Government is always working to ensure that our food exporters are treated fairly under trade agreements signed with other countries.
Coronet Peak, Queenstown, was the venue for the 2024 NZ Dairy Industry Awards.
OPINION: The watermelon party (AKA the Greens) try to portray themselves as an upright, self-righteous, caring bunch of woke, bicycle-riding…
OPINION: Good news for hunters as Forest & Bird have "paused" legal action against the Fiordland Wapiti Foundation and agreed…