Dairy product prices climb as whole milk powder gains – Margaret Dietz:
(BusinessDesk) – Dairy product prices rose at the Global Dairy Trade auction, stemming a decline that began in May.
The GDT price index gained 2.2 percent from the previous auction two weeks ago. The average price was a US$2,819 a tonne, compared with US$2,727 a tonne two weeks ago. Some 36,450 tonnes of product was sold, down from 42,966 tonnes two weeks ago.
Whole milk powder climbed 2.5 percent to US$2,667 a tonne. . .
In the first-ever Primary Industries Good Employer Awards dairy farmers Ben and Nicky Allomes won the top accolade, the Minister of Agriculture’s Award for Best Primary Sector Employers.
Woodville dairy farmers Ben and Nicky Allomes have been named the Best Primary Sector Employers.
The couple, who own Hopelands Dairies, also won the Innovative Employment Practices award. . .
Fonterra Cooperative Group has reached a provisional deal with Chinese partner Beingmate Baby & Child Food to unwind their Darnum joint venture in Australia.
The joint venture – 51 percent owned by Beingmate and 49 percent Fonterra – produced infant formula products at the Darnum plant in Australia for Beingmate’s Chinese customers, and was a key component of Fonterra’s plan to expand its reach into China’s second and third-tier cities. . .
Voting is now open for the 2018 Fonterra Board of Directors’ Second Election.
Only two candidates from the first election, Leonie Guiney and Peter McBride, obtained more than 50% support from voting shareholders. The Rules of the first election state that if not enough candidates obtain more than 50% support, there must be a second election. . .
It beggars belief that the Government has dispensed a $9.9 million low-interest loan to a dairy company without having finalised the terms, National’s Economic and Regional Development spokesperson Paul Goldsmith says.
“The Minister in charge of the Provincial Growth Fund couldn’t tell the House what terms he had in mind when he undercut commercial lenders to provide debt funding for a new processing plant.
“I wouldn’t blame any business like Westland Milk for accepting a cheap loan from a secure lender. . .
Apple producer Scales has had a bumper year with a record export crop lifting profits to the top end of guidance.
The company’s underlying profit was likely to be at the top end, or slightly exceed, the current guidance range of $58 million to $65m, in the year ending December.
Managing director Andy Borland said it was an excellent performance for the group, with all business units performing well over the year. . .
Dr Warren Parker has been appointed as Director and Chair of Landcorp, the Minister of Finance Grant Robertson and Associate Minister of State-Owned Enterprises Shane Jones announced today.
Dr Parker is a former Chief Executive of Scion (the NZ Forest Research Institute) and Landcare Research, and was previously Chief Operating Officer of AgResearch. He currently holds a number of board roles including on Predator Free 2050 Ltd, Farmlands Cooperative Society, Genomics Aotearoa and is the Chair of the Forestry Ministerial Advisory Group. Until recently he was Chair of the New Zealand Conservation Authority. . .
Landcorp’s submission to Sir Michael Cullen’s Tax Working Group (TWG) is a kick in the guts to rural communities, National’s Nathan Guy and David Carter say.
“Landcorp’s sneaky submission to the TWG proposing a water tax, nitrogen fertiliser tax and not opposing a capital gains tax proves how out of touch the state-owned company is with farmers on the ground,” Mr Guy says.
“With 6700 other submissions, why was Landcorp pressured to put in a submission that was more than a month late? The reality seems to be that the TWG are hell-bent on introducing environmental taxes and a capital gains tax, so they leaned on Landcorp to submit supporting more taxes and levies. . .
The Horticulture New Zealand board elected Barry O’Neil as its new President and Chairman at a meeting today. Mr O’Neil replaces Julian Raine, who has been President and Chairman for six years and who has made a significant contribution to horticulture for New Zealand. Mr Raine has stood down to pursue other business interests.
Bernadine Guilleux was elected Vice-President, with both positions effective from 1 January 2019. . .
A Hawke’s Bay orchardist is advising fellow small businesses to be ahead of the game on payday filing.
This is the mandatory requirement from April next year for employers to file their payroll information to Inland Revenue every time they pay their staff.
Te Mata Figs owner Helen Walker has been paying her five staff fortnightly and sending across their details using the online entry method in myIR. . .