Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Fonterra farmers are looking forward to higher returns as a result of the co-op's capital expenditure.
Shareholders Council chairman Duncan Coull says farmers have contributed their capital to support the strategy.
"It is now very important that these strategic initiatives are backed by tangible returns to our farmers on the investments they have made in the co-op," he told the annual meeting.
He says farmers are backing Fonterra's strategy of shifting more milk into higher returning products. "We can already see this working in the first quarter results announced recently."
He noted the co-op had used its strength to help farmers during a tough year, increasing earnings in the second half and raising advance payments.
"This demonstrated the co-op using its strength to help farmers when they needed it the most," Coull said.
Chief executive Theo Spierings told shareholders the co-op must "stay the course" despite market uncertainty.
He said the recent events in Europe, including the shooting down of a Russian plane by Turkey, are further compounding the markets. So Fonterra needs to stay the course and stay focussed on strategy.
"We look at things we're doing well and do them faster; things we're not doing well we need to improve on," he says. "These are the things we can control; we can't control the other things happening around the world."
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
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.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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