Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
New Fonterra Shareholders Council Ian Brown has signalled support for TAF (trading among farmers).
Brown replaced Simon Couper, who resigned yesterday saying TAF could not guarantee 100% ownership and control.
Brown says the council has worked alongside the board of directors and the board's capital structure committee for the past two years developing the TAF concept for implementation.
"The council has been deeply involved at all stages and has also conducted its own due diligence process with independent advisors involved," says Brown.
Earlier this week Fonterra's board gave its qualified view that the first four pre-conditions for the launch of TAF would be met, subject mainly to legislative changes and regulatory consents and confirmations. The fifth pre-condition revolves around the Shareholders Council providing its majority support.
Brown says the board needs to satisfy the council that TAF will be implemented in substantially the same manner as set out in the TAF blueprint.
"The board will provide to the council a final report showing how the pre-conditions have been met - prior to the board and the council formally resolving that TAF be implemented, which is likely to take place in July."
Brown says that throughout the deliberations during the past two years, one of the most important considerations has been the ultimate size of the Fonterra Shareholders Fund and how this might be structured to best protect the co-op for future generations.
"As a result of these discussions considerable emphasis has been placed on the terms of the Fonterra Shareholders' fund risk management policy which is described in the blueprint, he says.
"The council is pleased that the board has agreed to recommend to shareholders that they enshrine this policy in Fonterra's constitution."
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
OPINION: Sir Lockwood Smith has clearly and succinctly defined what academic freedom is all about, the boundaries around it and the responsibility that goes with this privilege.
DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
OPINION: Should cows in NZ be microchipped?
OPINION: Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the…