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 says its new partnership in India is an example of how the co-op is doing things differently.
The launch of Fonterra’s food service business with Indian partner Future Group is described as “a capital light partnership”.
Speaking at Fonterra’s annual meeting in Invercargill today, chief executive Miles Hurrell said the venture combines the co-op’s dairy knowledge and know-how, with Future’s Group’s access to market, established customer base, and strong marketing and distribution networks.
“Combine these two skill sets together and you get more than the sum of its parts.”
Through this partnership Fonterra will be exporting its Anchor Food Professionals products from New Zealand to India, where demand for dairy is expected to grow at seven times the rate of China over the next decade.
“And the reason I raise this as an example is because I believe it highlights the change in our thinking,” Hurrell told about 200 shareholders at the meeting.
“In the past, we thought we needed to have physical assets on the ground in order to succeed. “We also had a wall of milk coming at us – which is not the case today.
“Now, under our new strategy, we are looking to leverage our dairy know-how through partnerships, which will allow us to exploit our intellectual property and enter markets that we might not otherwise have had access to, and to do so in a capital light way.
Hurrell says this is something Fonterra is looking to do more of under its new strategy.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
OPINION: The distress that the politicians and bureaucrats are causing to the people of Wairoa and the wider Tairāwhiti is unforgivable.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.