Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Fonterra has managed to sell only 1% of its stake in the troubled Chinese company Beingmate.
Chief executive Miles Hurrell says the co-op will continue to offer the shares on the Shenzhen Stock Exchange market.
Under the sharemarket rules it is only possible to sell up to 1% cent every 90 days directly on the exchange, or sell up to 2% in a single block every 90 days.
Trades greater than 5% can be made to an individual party in an off-market transaction.
Hurrell says the co-op is also willing to sell a larger stake off market to any interested party.
Fonterra paid $750 million for its 18.8% shareholding in March 2015, in a bid to gain access to Chinese consumers for its infant formula.
Last year Fonterra wrote down the investment by $439m which helped lead to its first ever annual loss of $196m.
Hurrell says apart from Beingmate, the co-op is reviewing its China Farms and Brazilian joint venture with Nestle.
He expects a decision on both these investments this financial year.
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
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DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.
'Common sense' cuts to government red tape will make it easier for New Zealand to deliver safe food to more markets.
Balclutha farmer Renae Martin remembers the moment she fell in love with cows.
Academic freedom is a privilege and it's put at risk when people abuse it.
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