Rural round-up

Silver Fern Farms makes second loss – Alan Williams:

Silver Fern Farms made a pre-tax loss of $36.5 million in the year ended September 30, on top of its $42m loss the previous year.

The company has negotiated a new debt package with its banks for a two-year period, with a first-year facility of up to $609m, chief executive Keith Cooper said.

The preliminary result did not disclose total assets at balance date, but at the same time in 2012 Silver Fern had $316.6m of borrowings funding total assets of $796m.

The latest loss was disappointing and unacceptable, outgoing chairman Eoin Garden said. . .

Silver Fern Farms FY loss narrows to $28.6 mln, mulling options for sector overhaul :

(BusinessDesk) – Silver Fern Farms, New Zealand’s biggest meat processor and marketer, narrowed its annual loss as it deals with the “collapse” of the sheep meat market last year, and is mulling options for a sector-wide overhaul to inject some life in the industry.

The net loss narrowed to $28.6 million in the 12 months ended Sept. 30 from a loss of $31.1 million a year earlier, the Dunedin-based company said in a statement. Sales slipped 1.5 percent to $2 billion. The company blamed last year’s sheep meat market spike and subsequent collapse for the two years of losses, and said it has completed a programme to work through the downturn.

“Market consumption and pricing continued to decrease in the first half of the 2012/13 year, resulting from further writedowns of balance date stocks,” chairman Eoin Garden said. “In reality, the market collapse dramatically impacted upon two financial years due to large stock positions over the September 2012 balance date.” . . .

Meat co-ops see obstacles to merger:

Silver Fern Farms and the Alliance Group, agree that further consolidation is needed in the meat industry.

But both big farmer-owned co-operatives see different obstacles in the way of the farmer campaign to merge the two co-ops as the starting point for forcing wider changes in the industry.

The Meat Industry Excellence group is frustrated at the failure of the major processors and exporters to agree on any reform measures after months of discussions. It is pushing a merger idea in co-op board elections currently underway.

However, Alliance Group chair Murray Taggart of Canterbury says it does not support the view that the co-operatives should be the main vehicle for consolidation and bear the costs. . .

Hopes scare a ‘turning point’ – Sally Rae:

Federated Farmers chief executive Conor English hopes Fonterra’s recent whey contamination scare is a ”turning point” for New Zealand.

Addressing the recent Global Food Safety Forum in Dunedin, Mr English likened the fiasco, which turned out to be a false alarm, to the earthquakes in Christchurch.

Christchurch now had a better city and he believed the incident should be like an earthquake for Fonterra and the dairy industry. . .

[I think it’s a bit premature to say Chirstchurch now has a better city, but it is getting better]

Fonterra Welcomes NZ Sri Lanka Dairy Cooperation Arrangement:

Fonterra today welcomed a new Dairy Cooperation Arrangement between the New Zealand Government and Sri Lankan Government signed by Sri Lankan Minister for External Affairs Gamini Lakshman Peiris and New Zealand Minister for Foreign Affairs Murray McCully on the sidelines of the Commonwealth Heads of Government meeting in Colombo yesterday.
 
Fonterra Director and farmer-shareholder John Monaghan, who was in Colombo representing Fonterra at the Commonwealth Business Forum earlier this week, said the agreement will help formalise and support further public and private sector dairy sector cooperation between the two countries.
 
“The New Zealand dairy industry and Fonterra have a long history working with the Sri Lankan dairy industry. . .

Fonterra gives $100,000 to typhoon relief

Fonterra has donated $100,000 to ChildFund New Zealand to support its relief and recovery efforts in the Philippines following the devastating Typhoon Haiyan.

The money will provide desperately needed food, water and essential hygiene items and help to establish safe spaces for children.

Fonterra chief executive Theo Spierings said the co-operative is encouraging its farmers and employees to donate. . .

Interest keen for Hawke’s Bay wines at Hong Kong fair:

Two Hawke’s Bay wineries represented the region at a huge wine fair in Hong Kong and report that there is keen interest in wines beyond those from Marlborough, with importers and distributors wanting to know more about local wines.

Elephant Hill Estate and Winery and Moana Park manned the Hawke’s Bay Winegrowers Inc. stand that was part of the Hong Kong International Wine and Spirit Fair held over three days earlier this month that attracted over 20,000 buyers. . . .

29 Responses to Rural round-up

  1. Viv K says:

    Alternative headline “Another nail in coffin for New Zealand’s global brand as government ignores international concerns about thousands of deaths and human rights abuses and signs dairy deal with Sri Lankan government”

    Like

  2. Armchair Critic says:

    John Key said, on his departure to the summit in Sri Lanka “I don’t know what an inquiry would achieve.”
    At the time no one commented on the fact that our PM, after five years in office and even longer as leader of the party, did not know, in principle, what an inquiry into something as important as human rights abuses would achieve.
    OK, let’s imagine this was a one off incident and the PM was not prone to not knowing, and forgetting. The next question should have been “what advice did your officials give you on the need for an inquiry, and what an inquiry might achieve.” Surely that’s basic journalism. But no, because the NZ media are no better than amateur, the PM can bring his Helensville Primary second XV game to the equivalent of the RWC final, and get away with it. Shocking form by all involved.

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  3. Viv K says:

    Putting aside for the moment what an inquiry would achieve, it appears John Key decided that joining with the likes of David Cameron and calling for an inquiry would harm the dairy deal. This National government shows that, when it has to choose, money trumps human rights.

    Like

  4. Mr E says:

    If NZ didn’t export to countries we didn’t always agree with, we wouldn’t export.
    Viv, your ideological ramblings lend themselves to economic suicide.

    Like

  5. robertguyton says:

    “If NZ didn’t export…etc.”
    That ideology isn’t Viv’s, Mr E. You’ve plucked that from somewhere else.
    Your fevered imagination, perhaps?

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  6. robertguyton says:

    There must be some situations where the behaviour of a Government disqualifies it from receiving trade agreements from New Zealand (or are you suggesting, Mr E, that anything goes and we should trade regardless of the level of human rights abuse?).
    If there is a limit and the leaders of significant countries (such as Britain) are calling for an inquiry because of concerns, shouldn’t we (Key) at least support that inquiry, to clear the way for ethical agreements between NZ and whatever country is under investigation?
    Seems you agree he should ignore such a call.
    Why, Mr E.

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  7. Armchair Critic says:

    What really p*ssed me off, Viv, was that he gave the single worst answer possible, and no one, not a single soul, has had the brains or courage to question him on it.
    “I don’t know” is NEVER the answer.
    So we are left with two awful possibilities. The first, and the one we are given at face value, is that he genuinely didn’t know. That’s unacceptable, because it’s his job to know and by not knowing he’s shown he’s not up to the job. The second is that he did know, but said he didn’t. That’s unacceptable, because it’s lying.
    Perhaps the worst thing for me personally is that John Key will, in less than a year, ask me to vote for him. By then it will have been necessary for me to determine whether he is not up to the job, or a liar. I think I’d prefer the latter, because at least he would be being consistent his behaviour over the previous five years. Not that it’s really about me.
    So, theoretically the best outcome would have been for Key to have been honest and said “National values money over human rights.” Which is pretty much what you’ve said, Viv K. Thanks for that.

    Like

  8. Armchair Critic says:

    So if we don’t have impossibly high standards then the only other option is to have no standards at all, Mr E? That’s a very black and white perspective and, as Robert notes below, you are wilfully misinterpreting Viv K’s comment. Perhaps you should put down the Rorschach figures (they are so 1960s) and do your best to come up with something better than a false dichotomy.

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  9. Viv K says:

    Clearly Mr E, you are in the money matters more than human rights camp. Refusing to do business deals with repressive, murderous regimes is not economic suicide, but ‘engaging’ with them is. It looks like my first comment went way over your head. India boycotted CHOGM. We trade with India, their opinion of us matters.

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  10. Viv K says:

    That Key is a liar seems more credible than the alternative scenario. Come next election traditional National supporters will be googling dead rat recipes.

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  11. Armchair Critic says:

    I think that’s he just too thoughtless to care, and genuinely didn’t know. It’s a moot point, of course, because no journo was quick witted enough to ask a basic question or two.

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  12. Mr E says:

    I love it that some non farmers can, at a whim, offer up farmers livelihoods. Perhaps instead you should quit your own job and travel to the capital in protest.
    Trying to use others livelihoods as a form of leverage is so easy to do. At least for some. Instead why don’t you do the moral thing and lead by example.

    Like

  13. Viv K says:

    ‘Do the moral thing’. So according to you Mr E that would be signing new trade agreements with a government accused of mass murder and torture. I think that is morally wrong and that is enough of a reason to object to the deal. There is also an economic reason not to deal with such regimes, it’s bad for our international brand! The point you obviously don’t get. Botulism scares, DCD, dirty rivers and grazing cows on fracking waste already threaten farmer’s livelihoods, this deal ain’t gonna help the image on which our overseas sales depend. According to Mr Key, some countries don’t have such high human rights standards as we do (yeah, they kill their own people), that he can ignore that is obscene.

    Like

  14. willdwan says:

    Botulism – didn’t happen, DCD – a beat up, dirty rivers – an exaggerated problem farmers are working on, and fracking waste – another non-event. Now you actually want us to believe people care about our position on the ghastly Tamils. I’m beginning to think you just oppose trade itself.

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  15. Viv K says:

    Which willdwan, only demonstrates your inability to think logically, because someone who was opposed to trade itself would not care about damage to this country’s international branding image.

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  16. willdwan says:

    The Greens can be relied on to vote against every trade opportunity that comes along. The reasons may vary but the result is the same. Logic tells me you hate capitalism and so oppose the trade which makes it possible.

    Like

  17. Viv K says:

    Your comments show that you are inventing what you think other people believe. No sign of logical thought coming from you on this thread willdwan.

    Like

  18. robertguyton says:

    “Logic tells me…”

    Words fail me.

    Like

  19. Mr E says:

    Accused Viv, Accused. You said it. Not convicted, accused. Or do you not live by the rule of innocent until proven guilty? No?
    And perhaps we should punish the people for the actions of their leaders? Heaven help us if Norman gets anywhere near government. That pied piper will whistle you to your doom.

    You keep proving your moral radar is way off. I suggest you sit down and stare at a mirror until you find an end to your self deprecating ways.

    Like

  20. Mr E says:

    Logic and words Robert

    Like

  21. Armchair Critic says:

    Accused indeed, Mr E. Do you think, perhaps, that an investigation might be a good idea? Or an inquiry? Don’t know? Very good, you’ve met the very low standard required to be PM.

    Like

  22. Mr E says:

    Sure an investigation, sure an inquiry. But NZ government has no jurisdiction to do such a thing. That’s not our job. And is using farmers livelihood as leverage going to change that? No, don’t be silly AC.

    I’m starting to wonder if your part of the Green party, making silly, economic suicide type suggestions, proposals, policies and so on. In fact if it can be made and is silly, I suspect the Greens have had a go.

    Like

  23. Armchair Critic says:

    Sure an investigation, sure an inquiry.
    Very good Mr E. That’s a fair enough position to hold and is at least considered.

    But NZ government has no jurisdiction to do such a thing.
    True enough, but no one has suggested that NZ does have the jurisdiction. It’s more that we should have said something like “we think human rights are great, so we support an inquiry”, rather than “we don’t really know”. Canada managed it..

    And is using farmers livelihood as leverage going to change that? No, don’t be silly AC.
    Any farmer whose lievelihood i reliant on a trade deal with Sri Lanka probably has other, larger problems. That’s not to say a trade deal wouldn’t always be good, or bad, but rather that it’s not the critical must-have you are presenting it as.

    I’m starting to wonder if your part of the Green party, making silly, economic suicide type suggestions, proposals, policies and so on.
    Yeah? Perhaps you’d have a point if I’d done any of the things on your list, but since I haven’t, you don’t. However, in absence of independent proof you’ll have to take my word for it that I am not involved with the Green party in any way, shape or form, and I never have been.
    In fact if it can be made and is silly, I suspect the Greens have had a go..
    So the Greens are, in your opinion, supporting NZ manufacturing by actively participating? Now there’s something I didn’t know.

    Like

  24. Mr E says:

    Ha ha good one AC. You made me laugh out loud.
    Manufacturing? Perhaps not. That could be useful and not fitting the Greens mantra

    Farmers around NZ are going broke AC. Of this I am absolutely sure. Not most but a handful. And these farmers desperately need more. Moreover, we (including farmers) have this thing call inflation. That means we need to find ways to charge more for products so we don’t go broke as expenses increase.

    Farmers need every little bean. And using their livelihood as a political football is simply not fair.

    I don’t believe you think it is fair either.

    The Government can do other things to make change and they’ve said they will. Viv’s heading to Wellington to Protest and make suggestion to the Government about what they can practically do. Any less action on her behalf is ‘ignoring international concerns about thousands of deaths’

    Like

  25. Viv K says:

    I’ve been told by Tracey that protesting is not the way to go Mr E. I disagree, speaking out is important and I shall continue to do so. As far as human rights go, the right not to be shot by your own government comes ahead of the right to expect your government to support your financial solvency when you have overextended yourself on a dairy conversion.

    Like

  26. robertguyton says:

    Those tiny yachts circling the Anadarko drilling ship look brave and jaunty at the same time. That’s the way to protest, I reckon – brave and jaunty.

    Like

  27. robertguyton says:

    DOOMED I tells ya, DOOMED!!!.
    You’d be a Dad’s Army fan, Mr E, so I don’t need to spell it out to you.

    Like

  28. robertguyton says:

    Not a farmer, never have been one, but argue on their behalf constantly. You surely are a mystery, Mr E.

    Like

  29. jabba says:

    I feel sorry for the protesters horses being tied up at the wharfe

    Like

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