A rollercoaster ride for Waikato dairy farmers
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
The Fonterra Shareholders Council has given its approval to TAF (trading among farmers), paving the way for Fonterra board to launch the share trading scheme.
For Fonterra to move forward with TAF, the board had to be satisfied that five preconditions were met. The fifth TAF precondition was the support of at least 50% of the Shareholders Council.
Council chair, Ian Brown says there was 97% support for the resolution and this reflected the confidence the Council had in the new capital structure.
"The council's support for the preconditions, which are underpinned by 100% farmer ownership and control, signal that they have reached the standards set by the council on behalf of our farmer shareholders."
Brown says the council has undertaken a robust and fully independent two-year review process to ensure farmers' interests were paramount in the construction and design of TAF.
"From the outset the council viewed 100% farmer shareholder ownership and control as a non-negotiable and that any change to the capital structure had to be an enduring one.
"To ensure this was the case the council engaged the services of a number of external advisors who worked to review all aspects of TAF from a farmers' perspective. We are confident that the protections contained within TAF will preserve 100% farmer shareholder ownership and control and that the TAF model before us will provide the cooperative with stability for years to come."
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.
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