Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
Fonterra will invest more than $100 million in a new UHT milk processing plant at its Waitoa site in the Waikato.
Fonterra chief executive Theo Spierings says the new plant would enable the cooperative to meet growing demand for UHT products in Asia.
"The new plant will enable us to increase our UHT production by 100% over the next few years," Spierings says. "The plant will include five new UHT lines that will produce a range of products including UHT white milk and UHT cream for the foodservice sector.
"Products from the new plant will be bound for Asia markets and that will allow us to concentrate all our domestic UHT production – including Fonterra Milk for Schools – at Takanini in Auckland."
Spierings says together with the construction opportunities and the creation of an additional 50 jobs, the development would provide new opportunities for Fonterra farmers in the North Island.
"Milk supply in New Zealand is seasonal because it follows the grass growth curve. However UHT production requires year round milk supply so we will be talking to our farmers about the opportunity for more of them to take up winter milk contracts. This will enable them to take advantage of the milk price premium that these contracts include.
"A recent survey of our farmers indicated that a good proportion of them in the Upper North Island would be keen to take up winter milk contracts," Spierings says.
Prime Minister Christopher Luxon says the relationship between New Zealand and the US will remain strong and enduring irrespective of changing administrations.
More than 200 people turned out on Thursday, November 21 to see what progress has been made on one of NZ's biggest and most comprehensive agriculture research programmes on regenerative agriculture.
The a2 Milk Company (a2MC) says securing more China label registrations and developing its own nutritional manufacturing capability are high on its agenda.
Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo being once again hosted in Wairoa in February.
As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make an early November dash to Bologna to the 46th EIMA exhibition.
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