Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Prime Minister John Key has opened Fonterra's new $200 million Darfield site in Christchurch.
He paid tribute to Fonterra's contribution to the New Zealand economy and our reputation worldwide.
Key says Fonterra is New Zealand's only "truly global champion".
"The Fonterra brand and name is known around the corporate world," he says.
The new factory processes around 2.4 million litres of milk in a single day. A second plant is under construction and it will triple Darfield's capacity.
Fonterra chief executive Theo Spierings says Fonterra's Darfield site represents a great achievement for the operations teams that had overseen its construction and successfully commissioned the plant just as the new season got underway.
"This is a tribute to the hard work of more than 1500 people who have built a world-class dairy processing site – from paddock to powder – in just 18 months," Spierings says.
"Since August, when the first bags of whole milk powder rolled off the production line, more than 30,000 metric tonnes of high quality product have been produced, destined for customers in China, South East Asia and the Middle East. That's enough to fill about 1300 20-foot containers.
"This new site is already playing an important part in delivering on our business strategy. It is one of our most efficient plants, with the capacity and flexibility that will help drive further performance improvements and a better payout for our farmers."
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.