The Government was warned that loaning Westland Milk Products $10 million may set a precedent to other companies that they could turn to the Government when they could not get a loan from the bank.
In a briefing to Finance Minister Grant Robertson in September last year, released on the Treasury’s website this afternoon, Treasury officials said the decision to loan Westland the money should be deferred.
Despite this, two months later Regional Economic Development Minister Shane Jones announced that $9.9 million would be allocated to the South Island dairy co-op. . .
Imagine if Australia’s private landholders, who manage half the country’s landmass, were investing significant funds into climate change reduction and environmental improvements.
That’s the scenario a cross-industry coalition of agricultural, forestry and environment groups are working towards, using the lead-up to the federal election to argue for policy change which could reimburse farmers for the public benefits delivered by their land management outcomes. . .
At last a ray of sunlight into the country’s cowsheds: giant dairy co-op Fonterra has lifted its forecast farmgate milk price to $6.30-$6.60kg/MS, up from $6-$6.30, on the back of strong global demand.
The good news extends to next season, with ANZ economists predicting – because dairy commodity prices are improving more quickly than expected – the forecast for 2019-20 could go as high as $7.30kg/MS.
And there is something else Fonterra suppliers might get a bit of a glow from: the recognition by Fonterra’s top brass that the co-op has not been performing anywhere near where it should be. They’ll be looking for a sharp improvement, even if the co-op has a long way to go to match the achievements of smaller outfits like A2 Milk and Synlait. . .
Fonterra Fund units hit record low – Rebecca Howard:
(BusinessDesk) – Units in the Fonterra Shareholders’ Fund hit a record low after the dairy cooperative cut its forecast earnings and said it won’t pay an interim dividend.
Fonterra downgraded its earnings forecast to 15-25 cents per share from a previous forecast of 25-35 cents per share, blaming the increased milk price which saw it hike the farmgate price to its supplier-shareholders.
The downgrade implies annual earnings of between $242-403 million in the year ending July, compared to the earlier projection of $403-564 million. . .
Fonterra has taken a stake in Motif Ingredients, a US-based food ingredients company that develops and commercialises bio-engineered animal and food ingredients.
Fonterra joins Ginkgo Bioworks, Breakthrough Energy Ventures, Louis Dreyfus Companies and Viking Global Investors.
Judith Swales, head of Fonterra’s Global Consumer and Foodservice business, says the move is part of the Co-operative’s commitment to its farmer-owners to stay at the forefront of innovation to understand and meet the changing preferences of consumers. While the terms will not be disclosed, Fonterra’s investment represents a minority stake in the business. . .
Twenty young men from Kaikohe and Moerewa are set to start their journey in the Forestry Industry as trainees on the new Ngā Māhuri o Ngāti Hine Mānuka Plantation Training Program.
This is the first part of a 2yr program funded by the Billion Tree fund through Te Uru Rākau and supported by the Ministry for Primary Industries Economic Development Unit. Ngāti Hine Forestry Trust is partnering with Johnson Contractors LTD to deliver a “learn while you earn” approach to L2 Forestry Training.
Ngāti Hine Forestry Trust Chair, Pita Tipene says “Ngā Māhuri o Ngāti Hine means the saplings of Ngāti Hine; this is an industry training program which embodies the kaupapa of Ngāti Hine Forestry Trust Mission – He Ringa Ahuwhenua, He Hanga Mahi, to actively grow our assets. These akonga (learners) are our hapū and community assets”. . .