Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
The growth of Australia’s dairy industry is now down to the two main players Fonterra and Saputo, says dairy analyst Steve Spencer.
At issue is the commitment of the two large players and how they can restore trust in the industry for farm investors and owners, he says.
The Australian Competition and Consumer Commission last week approved Saputo’s takeover of beleaguered co-op Murray Goulburn; the takeover when completed will leave no big dairy co-ops in Australia.
With MG in its fold, Canadian dairy giant Saputo will edge out Fonterra to become Australia’s largest dairy player.
The ACCC decision requires Saputo to sell the MG Koroit Plant in western Victoria.
Spencer, Fresh Agenda, told Dairy News he wasn’t surprised by the ACCC’s decision. For the Australian dairy industry, it means competition will not ease, he says.
“Another player will get a larger foothold with access to Koroit and its milk supply and there will be no dairy co-op in the future.”
Spencer noted that MG has been in a weak state for years.
“So the nature of processor-farmer relations, the market shares of milk intake and the product mix of the industry will evolve further.
“We’ve got a fair way to go before change is over. I’m not sure it means the industry will grow as a consequence of the loss of MG, but that depends on the commitment of the two large players and how they can restore trust in the industry for farm investors and owners.”
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.