The Financial Markets Authority is seeking information from Fonterra after receiving a complaint expressing concerns about the dairy cooperative’s expected record annual loss and asset write downs.
In early August Fonterra said it expected to make a loss for the 2019 financial year of between $590 million and $675m due to asset write downs of up to $860m.
A Financial Markets Authority (FMA) spokesman said it recently received a complaint about Fonterra’s financial reporting, and its audited financial statements over the last few years.
The complaint came from shareholder Colin Armer, who said he and his wife owned 10 million shares. . .
Passion for sheep runs deep – Sally Rae:
She is known simply as “Sheepish Sophie”.
In the world of social media, Sophie Barnes – who has a strong following – is more well-known by that moniker.
Most recently, the young English shepherd and lamb-rearing specialist has been documenting her travels around the South Island with partner Dorrien Neeson and six dogs, working on various stations and farms.
At present stationed in the Waitaki Valley, Ms Barnes (27) admitted she had tried to find other hobbies apart from sheep farming and genetics but for her they did not exist . .
The battle for trust – Peter Burke:
With distrust growing in consumers, even for science, gaining their trust is now more valuable to win than ever.
Tim Hunt, the head of RaboResearch Food and Agribusiness in Australasia, says trust is becoming more complex to succeed in and more valuable to win because of what is happening in New Zealand’s markets.
He says in emerging markets, such as China and Southeast Asia, consumers are placing enormous value on the safety of products, whereas in western markets they increasingly value sustainability, animal welfare, fairness and provenance.
One of New Zealand’s biggest hands-on environmental efforts has created a wave of change on dairy farms across the country and is contributing to progress in improving water quality.
Today, the Sustainable Dairy: Water Accord farmers and partners announced their achievements to date, including:
- fencing off dairy cattle from 24,249km (98.3%) of significant dairy accord waterways (waterways which are more than one metre wide and more than 30cm deep). That’s the equivalent of nearly 12 road trips from Cape Reinga to Bluff. Excluding stock from waterways is one of the most beneficial ways to improve water quality
- installing bridges and culverts on 100% of stock crossing points dairy cows use
- preparing 10,396 nutrient budgets – up from 6,400 budgets in the first year of the Accord. Nutrient budgets allow farmers to carefully plan nutrient applications and manage nutrient losses
- assessing 100% of Accord farms for effluent management practices – this process checks that farms have appropriate infrastructure and systems in place to manage effluent
- developing riparian management plans to protect water quality on 52% of Accord farms with waterways. . .
Federated Farmers congratulates the dairy industry on another robust environmental report, which shows there are some good things to celebrate and some things that need further work.
Today’s release of the now five year’s running Sustainable Dairy: Water Accord report shows there are still areas that need work, but overall dairy farmers should be proud of what they’ve achieved in a very short timeframe.
Amongst those matters that need further work are the 6.15% of significant non-compliance with effluent management requirements.
But overall Federated Farmers wants to give a big positive shout-out to what hard working farmers have achieved for the environment in the last 12 months. . .
Export prices for lamb reached their highest point in the June 2019 quarter, Stats NZ said today.
This level is the highest since the series began in 1982, and follows steady increases from the second half of 2016.
“Both lamb and beef prices rose this quarter, up 4.7 percent and 5.3 percent, respectively, on the back of strong overseas demand,” overseas trade statistics manager Darren Allan said. . .
I have two burgers. One is a beef burger from McDonald’s on the left and the other on the right is a Beyond Meat, plant-protein burger from A&W.
You’ve been told by companies, groups and the media to choose; to eat less meat because one is better for the environment, and we’ve been led to believe that by picking one over the other, we’re doing our part in climate change and being more environmentally-friendly.
What if I told you that both burgers are doing their part and all agriculture is part of the solution, not the problem? What if I told you it’s not one versus the other when it comes to climate change? What if I told you there is more to the story than these companies are sharing? . .