Meat co-op dilemma
Meat processor Alliance Group's cash-strapped farmer shareholders face a dilemma - either pour more money into the co-operative or risk losing 100% ownership and control.
Meat processor Alliance Group is rewarding committed shareholders with $5.9 million in loyalty payments.
The quarterly payments have been made to the cooperative’s Platinum and Gold shareholders who supply 100% of their stock to the company.
The company says today’s loyalty payments are for the period January-March 2018 and brings the total amount distributed to loyal shareholders for the season to date to $9.8m, an increase of 4.7% compared to the same period of the 2016/17 season.
Farmers supplying 100% of their lambs are paid an additional 10c/kg for each lamb, 6 cents/kg for sheep, 8.5 cents/kg for cattle and 10 cents/kg for deer.
David Surveyor, Alliance Group chief executive says the company is 100% owned by farmer shareholders.
“We’re committed to offering a range of benefits above the price on the day including loyalty payments and yield contracts. We also provide other benefits such as priority processing and store stock facilitation.
“Our Loyalty Payments programme is a major part of our strategy to reward our loyal suppliers for their consistent and committed supply.
“Every cent Alliance Group makes in profits is delivered back to farmers or re-invested into the business to continue to improve our operational efficiency and ultimately lift returns to our farmer shareholders.”
Alliance Group distributed more than $15 million in loyalty payments over the 2016-17 season.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.