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.
Fonterra chairman John Wilson says he is unhappy about Fonterra coming third in the payout stakes among other New Zealand processors.
Fonterra was beaten by Tatua and Westland Milk in the 2014-15 season.
Wilson told Fonterra's annual meeting yesterday that he was "a reasonably competitive person".
"And while there are some exceptional achievements within your co-op over the past year, the reality is we did come third in the co-op payout stakes, and on the odd occasion we did not do a good enough job of communicating a clear message to you," he says.
"I can assure you that I don't like this any more than you do. Your co-op is in good shape, with investments delivering increased value for your milk faster, and solutions being provided more than ever, to you and me as farmers.
"But we still have work to do before we achieve the high expectations we all have for our co-op."
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
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.