increase font size
MIE chairman Peter McDonald.
MIE chairman Peter McDonald says the Silver Fern Farm (SFF) deal may be the last decision of significance that shareholders get to vote on.
SFF's history of being farmer owned and controlled would end abruptly if this joint venture proceeded, says MIE.
The group says SFF voters must understand the motivation from Shanghai Maling through its parent Bright Foods, a SOE of the People's Republic of China.
MIE believe the deal is about security of supply for China by controlling processing and distribution, thereby directing product flows as they see fit.
This is not a decision around the viability of SFF as a business. The SFF board, management and suppliers have shown great discipline to considerably improve the co-operatives trading position.
"This is a refinancing issue not a viability issue for SFF," says McDonald.
"In our view it's a decision initiated by the banks, orchestrated by Goldman Sachs and delivered to shareholders by the SFF board.
"What's needed is a decision by farmers for farmers."
The board of SFF began this process reportedly needing $100 million whilst wishing to retain farmer control.
However, the SFF board have recommended that shareholders cede 50% of the company along with key executive powers.
Farmers all know how important it is to "keep a bit of hay in the shed". Only retaining 50% of SFF has effectively "emptied the hayshed", says McDonald.
"Farmers know that retaining ownership and control of their supply chain is the only way."
As dairy farmers lock in plans for the upcoming mating season, a partnership between Fonterra and Silver Fern Farms has been formed with the aim of making it simpler to create additional value from calves not entering the replacement herd.
China remains New Zealand’s biggest market, taking $23 billion of our exports, but it’s no longer a commodity story, says Prime Minister Christopher Luxon.
Fonterra is strengthening its foodservice presence in China with the launch of a new cream for professional bakeries at Bakery China 2026 in Shanghai.
Applications for Silver Fern Farms Co-operative's next board-appointed farmer director are open.
Silver Fern Farms has tackled the ongoing war-induced shipping challenges to mideast markets by airlifting 90 tonnes of chilled New Zealand lamb and beef to the United Arab Emirates.
Waikato milk processor Tatua has again declared a record milk payout to farmer shareholders, leaving other processors in the dust.
A Labour-led Government won’t be bringing back the controversial freshwater rules of 2020.
National’s much-touted free trade deal with India featured in the Rural Issues Debate at Mystery Creek, Hamilton on Wednesday night.
New Zealand's 2026-27 freshwater fishing season has opened, with anglers encouraged to head to rivers and lakes over the coming days as conditions look favourable across much of the country.
Central Otago District Council (CODC) has voted against a plan to spread treated sewage sludge from Cromwell and Alexandra on farmland near Lauder, a decision Federated Farmers says reflects strong opposition from rural residents.
Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.
