Red meat exports slump, thanks to China
Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.
Silver Ferns Farm chairman Rob Hewett says the deal with Shanghai Maling wasn't done after "a behind the bike shed discussion".
He told shareholders that there was a global discussion before the decision was made to go with Shanghai Maling.
"Everybody who wanted to be part had an opportunity to come to the negotiation table," he told the special general meeting in Dunedin.
"In Shanghai Maling we have found a like-mined partner; the board unanimously recommends the partnership to shareholders."
Hewett says the status quo is not sustainable.
He says the Chinese company has the capital to accelerate SFF's pasture-to-place strategy and boost farmgate returns.
He also stressed that SFF still exists as a co-op.
"We intend to behave like a co-op; to say the co-op is not alive is not true."
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.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
New Zealand farmers are committed to making their businesses more resilient to climate change and are embracing innovation to help them do so.