Ingka Group — one of 12 different groups of companies that own Swedish furniture and homeware giant IKEA — has got the green light to buy a 5500ha sheep and beef station in the Catlins for forestry development.
Following recent approval by the Overseas Investment Office, an area of 330ha at Wisp Hill , in the Owaka Valley, would soon be planted with radiata pine seedlings
The long-term plan was to have a total of 3000ha — more than three million seedlings — planted in the next five years and the remaining 2200ha would ‘‘naturally regenerate into native bush’’, a statement from the company said.
Ingka Group owns about 248,000ha of forestry in the United States, Estonia, Latvia, Lithuania and Romania. Between September 2019 and August 2020, Ingka Group planted close to seven million seedlings. . .
The yo-yoing fortunes of the darling of the stock market – The Detail:
It used to be the darling of the share market, racing from 75 cents before sales of its infant milk powder took off, peaking at more than $21 last year.
But the a2 Milk Company’s meteoric rise is now tumbling, struck by complications by Covid.
Today on The Detail Emile Donovan talks to Sam Dickie, a senior portfolio manager at Fisher Funds, to talk about the company’s roller coaster ride, and how one of its greatest strengths – its unusual distribution channel – has become its greatest weakness.
Between 2017 and 2020, a2 Milk’s share price rose more than 900 percent. But over the past 13 months it has fallen by nearly 75 percent. . .
It is much easier to say no to new ideas and just accept the status quo than it is to embrace change. Change can be scary.
Fonterra changed, it became more honest and transparent in its communication with farmers, and completely transformed the way it deals with the Government. It became better at articulating what it wants from suppliers.
Plenty of farmers don’t like this change, this new collaborative approach, and four years on they are still muttering that the dairy co-op is cosying up to the enemy.
Slowly but surely, with the odd hiccup along the way, farmer advocacy groups like Beef & Lamb, DairyNZ and Federated Farmers have adopted the same approach and given the same reasoning; it’s much more fruitful to work collaboratively with whoever is in power than to shout impotently from the sidelines. . .
On August 22, 1969, Gary Frazer from Swannanoa was crowned the inaugural Young Farmer of the Year, the same year that the first Fieldays event was launched at Te Rapa Racecourse.
Over 50 years later, the competition still stands as a staple event in the rural calendar and an opportunity for rural youth to come together and showcase their skills, knowledge, and stamina. The current and past Young Farmer of the Year, Jake Jarman and James Robertson, are young agri professionals trailblazing through the primary sector in their respective fields.
Jake Jarman gained the title, 53rd Young Farmer of the Year In July. A couple months later, Jake says the excitement surrounding his win has settled now, and he’s getting back to his normal routine, working as a Relationship Associate at ANZ in Ashburton.
“It was definitely a rollercoaster afterwards with lots of celebratory messages, interviews, emails, and what not, so now things have settled down I’ve got my life back a bit!” . .
An overseas food ingredients company is planning to build a dairy processing plant in Tokoroa in south Waikato.
Singapore-based Olam Foods International (OFI) said the plant would create 50 to 60 full time jobs when fully operational.
OFI expected the first stage of the new investment would be completed in the Spring of 2023. This would involve the construction of a spray dryer facility, capable of producing high-value dairy ingredient products.
OFI has dairy operations in Russia, Uruguay and Malaysia and also grows and sources cocoa, coffee, nuts and spices from other countries. . .
The Commerce Commission has today released its final report on Fonterra’s calculation of the base milk price it will pay farmers in the 2020/21 dairy season.
The Commission found that Fonterra’s forecast price of $7.45 – $7.65 per kilogram of milk solids for the season is calculated in a way that is likely to be consistent with the requirements of the milk price monitoring regime under the Dairy Industry Restructuring Act (DIRA).
The key areas of the Commission’s focus in this year’s review were two components of the cost of capital (the asset beta and specific risk premium), the appropriateness of provisions for asset stranding, and the inclusion of instantised milk powder as a reference product in the calculation of the base milk price. . .