Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra has confirmed its payout forecast range for the 2012/13 season of $5.90 - $6.00 before retentions for a fully shared up farmer, unchanged from the previous forecast range.
Fonterra is required to consider its Farmgate Milk Price every quarter as a condition of the Dairy Industry Restructuring Act (DIRA).
The cooperative confirmed today a forecast Farmgate Milk Price for the 2012/13 season of $5.50 per kilogram of milksolids, unchanged from the previous forecast. Fonterra's forecast Earnings Per Share range remains at 40-50 cents.
Fonterra Chief Executive Theo Spierings said dry weather conditions, particularly in the North Island, in mid-December and January had resulted in a slowdown in milk supply growth.
"We had a strong start to the season and milk collection volumes were running 6% ahead of last season on a year-to-date basis," says Spierings. "However, the dry conditions mean we are currently forecasting total milk collection volumes to finish approximately 1% ahead for the full season."
Global dairy prices remained relatively flat through December and January, with the GDT-TWI increasing by 2% over this period. The index has since gained 5% in February. Given current global conditions, our Farmgate Milk Price forecast anticipates global dairy prices are likely to move higher in the second half of the season.
The current Farmgate Milk Price forecast of $5.50 kgMS is based on no substantial change to the current exchange rate for the rest of the season. If there was a further significant strengthening of the New Zealand dollar against the USD then this may adversely impact on the forecast Farmgate Milk Price.
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.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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.