Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Taupo-based dairy company Miraka has lifted its forecast milk price for the season to $9.17/kgMS.
Miraka chief executive Karl Gradon says he expects the company's milk suppliers will be pleased with the strong 2024-25 season price update.
"Our farmers have experienced a difficult and challenging period, with lower commodities over time and higher operating expenses and interest rates.
"We're supporting them with a strong 2024/25 season forecast milk price."
Miraka's milk price is 17c above Fonterra's mid-point for the season.
Miraka's 2023-24 final milk payout is $8/kgMS. Fonterra's final Farmgate Milk Price for the 2023/24 season finished at $7.8/kgMS. This, combined with the 55 cents per share dividend, provides a total cash payout to a fully shared-up farmer of $8.38/kgMS. The dividend includes a special 15c return to farmers.
Fonterra Co-operative Council chair John Stevenson says the special dividend of 15 cents per share, on top of interim and final dividends totalling 40 cents per share, demonstrates the strength of Fonterra's balance sheet.
"In addition, the special dividend is a welcome acknowledgement of the tough times faced by shareholders in the relatively recent past when the returns from ownership were not adequate."
NZPork has appointed Auckland-based Paul Bucknell as its new chair.
The Government claims to have delivered on its election promise to protect productive farmland from emissions trading scheme (ETS) but red meat farmers aren’t happy.
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.
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