Fonterra Confident on $9.70 Milk Price Despite Global Shipping Disruptions
Fonterra says it's keeping an eye on the Middle East crisis and its implications for global supply chains.
Since time immemorial, governments who want to bury bad news, release it late on the eve of a holiday or long weekend.
So, accordingly, Fonterra announced that it had finally sold its disastrous investment in its China Farms with a media release sent out at 4.26pm on Easter Thursday eve - when most news organisations around the country had already broken up for the Easter Weekend.
And the spinning didn't stop there.
Despite everyone knowing the dairy co-op's 'investment' in its Chinese farms have been a complete financial and practical cluster, chief executive Miles Hurrell uttered this bull manure: "Fonterra has contributed to the development of the Chinese dairy industry by establishing these farms and we're pleased to now hand ownership over to Youran for the next phase of development".
