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.
Fonterra chairman John Wilson says from a Fonterra governance perspective and the way the cooperative manages its business, its balance sheet is strong.
He also claims it has strong treasury policies on interest and foreign exchange risk. “So our position is very strong,” he says.
Hedging is managed through careful foreign exchange (FX) policy and everything is being run normally. “You will see that when the year-end results are released at the end of September; what our average exchange rate has been at the end of the year. And I think you will note at that time our treasury function performed very well in what has been a unique environment.
“We hedge in a very volatile environment, both for commodity prices and FX; and across financial markets and commodity markets generally we use a hedging policy to assist us to provide appropriate foresight in our forecasting for farmers and to manage the risk of volatility.”
Asked if they had rented warehouse space to stockpile milk powder as in 2008, Spierings says on the contrary they had had “an extremely strong July month of shipments”.
Spierings says the $500-600m capital spending reduction in the 2015-16 season will come from phasing new building and phasing offshore investment in farming, notwithstanding the essential investments needed to keep farms going in NZ.
He says they are in a strong position and there are no pressures on liquidity at the moment.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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