Rural round-up

Fonterra’s silent majority hold key to shareholder vote on number of directors:

Fonterra shareholders who want to send a message to their company have been encouraged to support the proposal to reduce the number of directors on the company’s board.

Colin Armer and Greg Gent, the two former directors behind the proposal, say that shareholders are the only people who own the company’s constitution and the only people who have the right to change it.

Mr Gent said he wanted to encourage those who do not normally vote to do so this time. . . 

Improving resource base key to sustainable growth:

Improving the quality of our natural resources is the key to sustaining economic growth in our primary sectors right across regional New Zealand, says Economic Development Minister Steven Joyce and Primary Industries Minister Nathan Guy.

Ministers Joyce and Guy today launched the updated Building Natural Resources chapter of the Business Growth Agenda with an emphasis on lifting primary sector productivity while improving our environmental outcomes at the same time.

“Our natural resources are central to achieving growth and more jobs in New Zealand’s economy, especially our regional economies. We are committed to using new scientific techniques and innovations, alongside infrastructure developments in information technology and water storage, to achieve both productivity gains and environmental gains,” says Mr Joyce. . . 

NZ’s primary sector leaders of tomorrow still bank on brand Kiwi, want deeper debate on GMOs – Jonathan Underhill:

(BusinessDesk) – New Zealand’s emerging agri-business leaders say affluent consumers in 2035 will pay a premium for products sold with a strong provenance story and that are more tailored to their needs, according to KPMG’s Agribusiness Agenda 2015.

The accounting firm asked a range of primary sector organisations to nominate emerging leaders and more than 50 of them – scientists, company executives, farmers, government officials and marketers – met for a summit in Auckland in September and were asked to share their vision for the sector in 2035. They were also surveyed on their priorities and the results compared to a separate poll of current leaders. . . 

RBNZ asks banks to stress test dairy loans, confident they can weather downturn – Paul McBeth:

(BusinessDesk) – New Zealand’s major lenders are able to cope with a protracted downturn in the dairy sector, which the Reserve Bank estimates could cause credit losses of as much as 18 percent over a four-year period.

The central bank has requested the five biggest lenders to the dairy sector – ASB Bank, ANZ Bank New Zealand, Bank of New Zealand, Westpac New Zealand and Rabobank New Zealand – to stress test their portfolios, which the Reserve Bank sees as a growing risk to the health of the nation’s financial stability. The regulator was encouraged by “realistic provisions” set aside for the portfolios, and its modelling suggests a sustained downturn would be manageable for the wider system. . . 

Dairy farming not fanning Indonesian forest fires:

Federated Farmers echoes the concerns of Greenpeace and others regarding the devastation and environmental impact of forest fires that have burned for more than three weeks across Indonesia, but says the use of Palm Kernel Expeller (PKE) as a supplementary feed source for dairy cows is not to blame.

“It’s important to remember that PKE is not the reason for these fires or tropical deforestation. It is a by-product of the extraction of palm oil and palm kernel oil which would otherwise be treated as waste,’ says Federated Farmers Dairy Industry Chair Andrew Hoggard.

“Dairy farmers are taking this waste product and making use of it as a supplementary food source, used mainly as an alternative to pasture during adverse weather such as droughts, to maintain the welfare of herds and the productivity of New Zealand’s vitally important dairy industry.” . . 

Panning for Pink Gold: Fonterra Expands Capacity in High-Value Lactoferrin:

It takes 10,000 litres of milk and incredibly sophisticated technology to make just one kilogram of lactoferrin – a high-value ingredient that Fonterra has recently doubled its capacity to produce.

The new $11 million upgrade of the lactoferrin plant at the Co-operative’s Hautapu site is now running at full volume, helping to meet growing worldwide demand for the product affectionately known as ‘pink gold’.

Lactoferrin is a naturally occurring iron-binding protein found in milk and is in high demand, particularly in Asia, for a wide range of nutritional applications from infant formula through to health foods and yoghurts. . . 

Enter Dairy Industry Awards and go on holiday:

Those that enter the 2016 New Zealand Dairy Industry Awards can win a holiday of their choosing – so long as they enter soon.

Entries in the 2016 New Zealand Share Farmer of the Year, Dairy Manager of the Year and Dairy Trainee of the Year competitions are now being accepted online at www.dairyindustryawards.co.nzand close on November 30.

Those that enter by midnight on November 20* will go into the Early Bird Entry Prize Draw and be in with a chance to win a share of $12,000 in travel vouchers and spending money. . . 

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