Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Fonterra chairman John Wilson says the co-op is providing a new level of transparency to shareholders about the business.
He told the annual meeting in Waitoa last week that it was providing clear reporting on each business – ingredients, consumer and food service and international farming.
Wilson says in any season some parts of the co-op may perform better than others, "just as some farmers are more productive than others on a year-to-year basis".
"We can see clearly where we are doing well and the steps we are taking where performance needs improvements," he says.
"We are enabling shareholders to better understand the business."
Wilson says reporting performance quarterly, as has happened this month, added further to this transparency.
Fonterra is now an $18 billion global business.
TAF (trading among farmers) is now part of the business; ownership and control by shareholders is as strong as ever, as shown by the record voter turnout last week.
Wilson notes Fonterra has stood its ground in the face of competition.
"We produce 85% of the milk in New Zealand, we have a stable milk supply base and our shareholder numbers continue to increase."
During general discussion at the meeting Wilson admitted the co-op had "dropped the ball" in its communications with shareholders. Wilson said that informing farmers earlier this year about new PKE usage limits was one such example.
He says the co-op must get its communications better and this is in the front of mind of management.
Former King Country MP Shane Ardern told the meeting that the co-op was unable to take stakeholders along on its strategy "in these turbulent times".
"We definitely have communication issues," Ardern told the meeting. "We have to do better in our public relations department."
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.