increase font size
Fonterra chief executive Miles Hurrell.
Fonterra will pocket $88 million following the sale of its two joint venture farms in China.
The farms in Shandong province were sold to Singapore-based AustAsia Investment Holdings for US$115.5 million.
Fonterra owns the farms with a joint venture partner and had a 51% stake.
Fonterra hief executive Miles Hurrell says the sale is another important milestone for the co-operative and aligns to its strategy of prioritising New Zealand milk.
"The sale of the JV farms allows us to focus even more on our farmer owners' milk and follows the sale of our two wholly owned China farming hubs earlier this year.
Fonterrs sold its two wholly owned China farming hubs in Shanxi and Hebei provinces to Inner Mongolia Youran Dairy in April for $552 million."
State farmer Pāmu (Landcorp) has announced it will pay a $10 million special dividend to the Crown off the back of a strong outlook for the business and a capital repayment of $9.5 million following Fonterra's consumer business sale.
Fonterra farmers are set for a multi-billion-dollar payout this week.
OPINION: Reckless action by Greenpeace in 2024 forced Fonterra to shut down a drying plant for four hours, costing the co-op about $300,000.
Fonterra says Richard Allen will succeed Miles Hurrell as its new chief executive.
A day after selling its consumer businesses, Fonterra has settled a civil claim, filed by Greenpeace, out of court.
The Government has announced changes to stock exclusion regulations which it claims will cut unnecessary costs and inflexible rules while maintaining environmental protections.
Technology and the use of artificial intelligence are increasingly part of life, both on the farm and off it.
Ashleigh Gordon and Leilani Lobb have been named as the two finalists for Dairy Women's Network's (DWN) 2026 Regional Leader of the Year Award.
Animal and Plant Health New Zealand (APHANZ) says the approval of a new fungicide seed treatment is a positive, however growers will be hoping the final approval is completed ahead of the spring season.
North Canterbury farmer Adam Williamson has been appointed DairyNZ's associate director for 2026-27.
Fonterra farmers are set for a multi-billion-dollar payout this week.
OPINION: Reckless action by Greenpeace in 2024 forced Fonterra to shut down a drying plant for four hours, costing the co-op…
OPINION: The global crusade against fossil fuel is gaining momentum in some regions.
