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 as a farmer he is angry and disappointed with today's arbitration decision over the false botulism scare in 2013.
Speaking at a media conference with chief executive Theo Spierings, Wilson said the decision did not fully recognise the terms of supply agreement between Fonterra and Danone.
However, Wilson says he accepts the decision to award Danone $183 million in damages.
“We will now turn our attention to delivering the best possible returns for our farmers despite this outcome,” he says.
He added that Fonterra’s management is also committed to this.
Wilson and the management team briefed the Shareholders Council on the arbitration decision before the media conference.
He says there is also frustration among shareholders.
Danone sought damages for recalling products; the precautionary recall was a result of a false test from a third party.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.
AgriZeroNZ, a joint venture fast-tracking emissions reduction tools for farmers, is pouring $5 million in a biotech company to develop a low emissions farm pasture with increased productivity gains.