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.
More diversification in the New Zealand economy is sustaining the currency despite low dairy prices, says Fonterra chairman John Wilson.
Fonterra updated its farmgate milk price to $4.15/kgMS in January versus $4.40/kgMS last year, Wilson told the Northland Dairy Development Trust.
"So it's our second year of very low prices onfarm," he said.
"One thing not being talked about... and which we need to adapt to, is that we clearly have an economy which is being supported, which is good, and more diversity than the influence of dairy in the past."
Historically if global whole milk and skim milk powder prices dropped to current levels the NZ dollar would have dropped to the low fives; giving a 50-55c (versus $US) exchange rate.
Net migration, the Canterbury rebuild and a strong tourism sector were causing the NZ dollar to be valued.
"So we've got a dollar which is strong relative to where we would normally be at these sorts of global commodity prices," he said.
"All these factors are clearly making it very difficult on farm."
A Southland farming leader wants the regional council to delay a proposed regional rates hike, much of which is intended to fund flood protection works.
Rural Women New Zealand (RWNZ) says access to personal banking services in rural communities is fundamental to promoting outcomes that benefit Kiwi consumers.
A group set up to boost education and promotion of wool says it has made positive strides during the first year of its three-year strategy.
Meat processor ANZCO Foods says despite a challenging business environment, it has posted a net profit before tax of $61 million for 2023.
The deer industry is working on getting more venison into Asia.
The red meat sector is welcoming the start of trade negotiations between New Zealand and the United Arab Emirates (UAE).
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.