Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
FONTERRA CHIEF executive Theo Spierings has welcomed the release of the Government inquiry report into the whey protein concentrate contamination incident.
It affirms New Zealand's position as a global leader in food production and safety, says Spierings.
"The report and its recommendations will help further strengthen New Zealand's robust food safety regulatory systems," Spierings says.
"The integrity of the system is highlighted by comments from Professor Alan Reilly, the Inquiry's Independent Peer Reviewer, who states: "I concur with the broad conclusion drawn by the Inquiry team that the dairy food regulatory structure in New Zealand is fundamentally sound and compares well with official food control systems elsewhere in the world."
"This independent endorsement of the quality of New Zealand's food safety framework is a welcome contribution following the WPC80 precautionary recall," said Mr Spierings.
"We have learned critical lessons from what has been a difficult experience, and the findings of this forward-looking review are an important step in our own reputational rebuild. It is encouraging that many of the recommendations are in line with our own conclusions about the robustness of New Zealand's food production and safety systems."
Spierings says the constructive level of engagement throughout the inquiry process and said Fonterra is looking forward to working with the Government to progress some of the report's recommendations.
"An exciting proposal for Fonterra, and for New Zealand, is the establishment of a centre of food safety science and research and we would welcome the opportunity to commit our expertise to a project such as this.
"We will continue working with Government, global regulators and other food producers to be even better equipped to deal with food safety challenges in the future. New Zealand is the dairy capital of the world and Fonterra must play a lead role in creating a new global benchmark for food safety and quality," Spierings says.
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural machinery manufacturers will be looking for new markets.
Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
With nearly two million underutilised dairy calves born annually and the beef price outlook strong, New Zealand’s opportunity to build a scalable dairy-beef system is now.