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.
DairyNZ chairman Michael Spaans says after three “very tough” years, things are looking better for farmers.
He says while wet weather continues to wreak havoc on farms throughout the country, on the milk price front things are looking much better.
Spaans made the comments while opening the DairyNZ Farmers Forum in Taranaki today; about 120 Taranaki farmers are attending the day-long event.
Fonterra’s farmgate milk price for 2016-17 season stands at $6/kgMS, compared to $3.90/kgMS last season. The co-op will announce its forecast payout for the new season, starting June 1, on Wednesday.
Spaans, who stepped down from the Fonterra board earlier this year after a health scare, believes a $6 payout is “fairly solid” for this season.
But he says conditions on farm remain tough- wet weather has been quite a challenge.
“Spring was extremely wet- not only in Taranaki but right across North Island and South island,” he says.
“Autumn has been wetter, particularly in my neck of the woods – in east Waikato where I farm- we have had probably half our annual rainfall in the last two months.”
Flooding in Edgecumbe also affected dairy farmers earlier this year.
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.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
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