The last 20 years of the World Trade Organisation (WTO) have provided an objective framework on which to base our international trade and seen the organisation provide great assistance to small countries like New Zealand.
That was the message from Federated Farmers’ President Dr William Rolleston, Vice President of the World Farmers’ Organisation, in his address overnight to a WTO Public Forum in Geneva.
“New Zealand is a small country, which means our political influence bilaterally can be limited. Without WTO rules, disputes are more likely to be settled on bargaining power rather than the evidence,” said Dr Rolleston. . .
Fossicking in Fonterra’s annual report – Keith Woodford:
The release of Fonterra’s annual report on 24 September coincided for me with a long plane trip back from China. I used the time trying to work out what all the numbers really mean. It was not an easy task.
Fonterra’s annual report – like most reports from large companies –provides masses of numbers. Some are clearly there for public relations purposes. Others are there to meet the required rules of the International Financial Reporting Standards (IFRS). And then there is another set of numbers which Fonterra constructs according to its own rules.
These additional measures are called non-GAAP measures; i.e. ‘non-generally accepted accounting measures’. Fonterra itself acknowledges that these measures are not standard between companies, so comparison must be made with caution. . .
A Filipino worker in the dairy industry says people with false documents are being denied visas and sent home, despite many of them not knowing their paperwork was wrong.
Immigration New Zealand has confirmed it is investigating multiple work visa applications involving Filipino dairy workers in the South Island, after staff noticed false claims of work experience and qualifications on visa applications.
Roberto Bolanos is a dairy farmer in North Canterbury, who arrived from the Philippines 10 years ago.
Mr Bolanos said the problem started with recruiters in the Philippines who offered people dairy jobs in New Zealand, along with documents, at a cost of, in some cases, $15,000. . .
An independent Plan Governance Group made up of representatives of funding organisations, OSPRI, and wider stakeholder interests, has reviewed the bovine tuberculosis National Pest Management Plan (TB Plan). Today it gave its final advice on the proposed changes to the TB Plan to the Minister for Primary Industries, Hon Nathan Guy. The changes build on the significant progress made by OSPRI under the current TB Plan.
The Plan Governance Group considered a range of technical and scientific advice, and strongly believes that the eradication of TB from New Zealand is both feasible and economically justifiable. The proposed changes to the TB Plan were consulted on with farmers, local communities, and other stakeholders in June and July this year. Over 400 quality submissions, covering a wide range of issues, were received on the draft Plan proposal, and the Plan Governance Group took them into account as it prepared its final proposal to the Minister. . .
New Zealand and Australia beef exports to the US are set to reach their quota limits in Q4. Meanwhile, global economic conditions—such as the appreciation of the US dollar and the depreciation of the yuan and the real—are having an impact on beef trade, according to the Rabobank Beef Quarterly Q3.
A strong US dollar has led to a reduction in US exports and support for US imports, while a weakening Chinese economy and devaluation of the yuan are curbing beef prices in China, and the devaluation of the real is expected to support Brazilian exports in the coming months. “With little change expected in major beef-trading economies in the coming quarter, other than a possibility of the US FOMC raising interest rates, a strong US currency is expected to continue to affect global beef trade”, according to Angus Gidley-Baird, Senior Animal Protein Analyst at Rabobank. . .
The Commerce Commission has released a second draft determination maintaining its preliminary view that it should allow Cavalier Wool Holdings (CWH) to acquire New Zealand Wool Services International’s (NZWSI) wool scouring business and assets.
The Commission released its preliminary view on CWH’s application in March 2015 and has since received further information and submissions from interested parties on various matters. The second draft determination has been released to allow interested parties the opportunity to submit on this new information.
Commission Chair Dr Mark Berry said having considered the new information, the Commission is still of the view that the public benefits of the acquisition would outweigh the loss of competition. . .
Ballance Agri-Nutrients achieved record sales and returned $76 million to shareholders while keeping margins tight and prices affordable, Chairman David Peacocke told the annual meeting of shareholders in Tauranga on Wednesday.
He said the result for its financial year ended 31 May 2015 capped off a milestone year for the co-operative, which celebrated 60 years since the first shares in legacy company Bay of Plenty Fertiliser were issued. Noting the co-operative “not only survives but also thrives”, he said its core value of collective strength remained unchanged while it evolved to meet the current needs of farming.
“What has changed is that farmers are busier, operating over larger properties and working within increasingly tight environmental demands. So along with a secure supply of the right nutrients, we continually broaden our scope to tailor our products, our technology solutions and our advice for today’s farms, and the farms of the future.” . . .