Another Windfall for Fonterra Farmers, Unit Holders
Fonterra farmer shareholders and unit holders are in line for another payment in April.
If you think only Fonterra is in financial dire straits... the US milk industry is reeling from the decline in dairy sales.
Within the past two months two of its largest processors have gone bust.
While milk remains a household item in the US, people are simply drinking less of it, Dean Foods Co said in its November bankruptcy filing. “The decline in dairy sales has occurred in conjunction with the rise of oat, nut, soy and other alternative ‘milk’ products at retailers and food service locations across the country.”
Circumstances were so similar that Borden Dairy Co. used the same language almost verbatim in court papers recently to describe its predicament.
Global dairy prices are on a roll, recording a fourth consecutive jump on the Global Dairy Trade (GDT) auction this year.
Booming primary sector exports are helping lift earnings for farm service providers.
The world is waking up to the disadvantages of carpets derived from petrochemicals, creating opportunities for New Zealand strong wool.
The red meat sector finds itself in "a very rare set of circumstances", says Federated Farmers meat and wool industry chair Richard Dawkins.
Agrisea NZ has appointed Craig Hudson as it's new chief growth officer.
State farmer Landcorp, trading as Pamu, is a forecasting a full-year net profit of around $100 million.