Tuesday, 15 June 2021 14:00

Cracked China

Written by  The Hound

OPINION: Your old mate reckons Fonterra and its dairy farmer shareholders may well be all cock-a-hoop about the prospects of a near $8 payout this year and one north of $8 next year.

However, he suggests these giddy, high payouts mask a major issue the dairy co-op appears to be glossing over - the total, absolute failure of its Chinese investments.

Starting back with Fonterra's ill-fated investment in San Lu, followed by the disastrous Beingmate and China Farms ventures, billions and billions of shareholder funds have been lost.

Yet, no one - either on the board or from the executive of the dairy co-op - has ever been held accountable for these disasters.

Some blame former chief executive Theo Spierings.

Others point the finger at former chair John Wilson.

But that it is too easy, as a dead man cannot defend himself. What about the board directors and management at Fonterra who are still around?

More like this

Building the 'Tesla of milk'

A new era of growth is unfolding in New Zealand’s biggest market and we are in the box seat to cash in, according to China market expert Jane Li.

Shareholders welcome Fonterra revamp

Fonterra's full-year results and strategy refresh has been well received by shareholders says Fonterra Co-operative Council chair James Barron.

National

Ice broken on an old problem

Three enterprising Mackenzie College (Fairlie) students may well have come up with the perfect solution to an age-old problem of…

Cruel April Fool's joke!

In an ironic twist, the Government has pushed back the date of its so-called 'ute tax' or feebate scheme to…

Machinery & Products

Keeping everyone safe

As tractors get larger and front linkage kits become more common, many have started fitting underrun or collision protection systems.

Keeping stock and drivers safe

Livestock haulers are a crucial link in the New Zealand agriculture supply chain, transporting stock onto or between farms, to…

Making lamb marking easy

Designed by a sheep and beef farmer, Vetmarkers are made in New Zealand and sold around the world.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Lock him up!

OPINION: This old mutt notes that Geoff Reid, an 'environmental activist' - whose activism appears to be limited to surreptitiously…

Milking it?

OPINION: Your canine crusader understands members of the 'strategic groups' invoked in the Government-backed 'Fit for a Better World' programme…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter