Displaying items by tag: Fonterra

Could Fonterra have predicted the current downturn in dairy prices?

Fonterra is brushing off calls to suspend its online dairy auction as a means of arresting the decline in milk powder prices.

Fonterra chairman John Wilson says from a Fonterra governance perspective and the way the cooperative manages its business, its balance sheet is strong.

Fonterra is losing control – control of correctly predicting the mood among commodity buyers and correctly predicting how dairy prices will fare.

Your old mate sympathises with the plight of the country’s dairy farmers and how the falling payout is impacting their financial stability.

The Fonterra Cooperative Support ‘loan’ to be made available to shared-up farmers shows the co-op is optimistic prices will come back, Fonterra chairman John Wilson says.

Colin Guyton says for the first time since he’s been farming he didn’t receive a milk cheque in July, in common with almost everybody and a cause of stress and concern. 

Fonterra has been fined $174,150 in Tauranga District Court for six separate offences under the Resource Management Act. Fonterra pled guilty to all six charges and was sentenced by Judge Smith at a hearing on July 27.

Fonterra is significantly reducing quantities it will offer on the GlobalDairyTrade (GDT) auction for the next 12 months including a shift away from whole milk powder.

Standards and Poors has placed Fonterra's 'A' long-term and 'A-1' short-term ratings on creditwatch negative, citing debt issues.