Fonterra on track to deliver $1bn capital
Fonterra remains on track to deliver around $1 billion of capital to farmer shareholders and unit holders in two years.
The Fonterra Shareholders' Council, which represents the cooperative's 10,500 Farmer Shareholders, said it was important for regional councils to work closely with affected farmers and re-examine nitrate level targets following the announcement by Ravensdown and Ballance to suspend the sale and use of Dicyandiamide (DCD) treatment on farm.
The decision was prompted after minimal levels of the nitrate inhibiter were found in dairy product samples and while its presence poses no health risk the suspension of its use is seen by all parties as a pragmatic, proactive move.
Shareholders' Council chairman, Ian Brown: "Fonterra Farmers and regional councils have been working hard to develop plans for reducing nitrate levels and greenhouse gas emissions on farm and DCD was identified as an efficient way of achieving these.
"The outcome is disappointing for all stakeholders and will affect the ability of around 400 farmers to meet the nitrate level targets which were set based on the ongoing use of DCD - targets they have been working hard to meet.
"We are confident that regional councils and all stakeholders will continue to work closely with Fonterra and our affected farmers in order to review the targets."
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
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.
Horticulture NZ chief executive Nadine Tunley will step down in August.