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.
OPINION: Fonterra is forking out $27 million to pay Victorian farmers to settle class action proceedings across the ditch.
The case arose from claims by several farmers in the state of Victoria that Fonterra had breached the terms of its supply contracts and misled suppliers when it moved to cut milk payouts in 2016.
The farmers claimed Fonterra's milk payout was based on meeting or exceeding those of competitor, Murray Goulburn, rather than in line with their supply contracts.
Murray Goulburn cut its forecast price by as much as 15% and shortly afterwards Fonterra moved to cut its payout by nearly as much.
The co-op says the settlement is made without any admission of liability.
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.