Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
Fonterra remains on track to return $1 billion to farmer shareholders and unit holders in the 2024 financial year.
Last year the co-operative annlounced four key value targets, including through planned divestments and earnings, returning about $1b in capital to the shareholder base.
To this end, Fonterra flagged the sale of its Soprole consumer business in Chile and a review of ownership of its Australian business.
Fonterra chief executive Miles Hurrell says progress is being made on both fronts.
"Both Soprole and Fonterra Australia as performing well and our priority is to maximise the value of both businesses to the co-op," says Hurrell.
"We will take our time to ensure the best outcomes from these processes and remain confident on delivering on our intention to return around $1 billion of capital to our shareholders and unit holders by F24."
Hurrell says their teams are always looking to drive demand for New Zealand milk by developing new ways of using our products in local cuisine to find the next big food trend.
In Greater China, using the power of social media, the team promoted the idea of mozzarella on dumplings. The dish gained huge attention and sparked a new trend in the lead up to the Lunar New Year, says Hurrell.
"In the Middle East, Fonterra team launched Red Cow - a more affordable range of products we sell direct to customers, such as bakeries, to help us capture a greater share of the foodservice market."
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.