Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Fonterra farmers are worried that suppliers are leaving the co-op.
Shareholders council chairman Duncan Coull told the co-op’s annual meeting that while the ‘retain and grow’ target of 82.2% was reached there continues to be a downward trend in this measure.
“There are a number of factors that go into this, some outside our control,” he told about 150 shareholders in Hawera this month.
“This number will have greater significance as milk growth slows to a more moderate number.
“I can’t stress enough that we all have a part to play at some level to ensure we remain stronger together.”
According to the council’s annual report, Fonterra’s total milk collection in New Zealand for the 2016-17 season reached1.5 billion kgMS, down 3% from the 2015-16 season.
The decrease was mostly due to wet spring conditions though stronger autumn production partially offset this reduction.
Fonterra collected about 82.4% of NZ’s milk production in the 2016-17 season, down from 84.1% in 2015-16.
In the annual report, Coull noted this as an important metric to monitor as part of the reason for the formation of Fonterra was to provide critical mass to compete in the global marketplace.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.