"Our" business?
OPINION: One particular bone the Hound has been gnawing on for years now is how the chattering classes want it both ways when it comes to the success of NZ's dairy industry.
Fonterra says it’s keeping a close eye on the coronavirus outbreak in China, the co-op’s key export market.
While Fonterra’s operations haven’t been impacted, the co-op is wary.
A spokesperson says if there was a sustained drop in consumption in China, like fewer people eating in restaurants, then that could have an impact on sales.
“We’ll be watching GDT results and our Foodservice business over the coming month to get an indication,” she says.
Chinese officials have confirmed over 7,700 cases of the mysterious illness as foreign governments, including New Zealand, are airlifting their citizens out of Wuhan, the outbreak’s epicenter.
Some parts of China including Wuhan have movement restrictions in place.
China is Fonterra’s key market: it has a $4billion revenue business there and now accounted for 40% of dairy imports into mainland China.
The co-op also operates farming hubs in China, milking over 30,000 cows.
Around 11% of all dairy consumption in China comes from Fonterra. The co-op has 1700 employees in Greater China.
Fonterra says it has extended the Chinese New Year holiday for its employees, in line with the Chinese government’s decision.
“We have also tracked and contacted all employees who have been travelling over the New Year period and they are safe and well.
“As a precaution, we have restricted work-related travel to and from China and we’re asking employees who have recently returned from China to self-isolate for a period of 14 days.”
Alliance has announced a series of capital raise roadshow event, starting on 29 September in Tuatapere, Southland.
State farmer Pāmu (Landcorp) has announced a new equity partnership in an effort to support pathways to farm ownership for livestock farm operators.
Following a recent overweight incursion that saw a Mid-Canterbury contractor cop a $12,150 fine, the rural contracting industry is calling time on what they consider to be outdated and unworkable regulations regarding weight and dimensions that they say are impeding their businesses.
Trade Minister Todd McClay says his officials plan to meet their US counterparts every month from now on to better understand how the 15% tariff issue there will play out, and try and get some certainty there for our exporters about the future.
Brett Wotton, an Eastern Bay of Plenty kiwifruit grower and harvest contractor, has won the 2025 Kiwifruit Innovation Award for his work to support lifting fruit quality across the industry.
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