Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra has lifted its forecast farmgate milk price for the 2017-18 season by 25c to $6.75/kgMS.
The coop also announced a forecast earnings per share range of 45 to 55 cents, making the forecast total available payout to farmers in the 2017-18 season $7.20 to $7.30/kgMS, before retentions.
Chairman John Wilson says the revised forecast farmgate milk price reflects the ongoing rebalancing of supply and demand in global dairy markets.
“We are seeing growing confidence on-farm across the country and, with global demand for dairy strengthening, the signs are for a good start to the season for our farmers and their rural communities although following a challenging period of very wet conditions for some of our farmers,” says Wilson.
“The increased Farmgate Milk Price will be welcome news to farmers as they continue to invest in their businesses off the back of an improved 2016-17 season, with the usual reminder to budget cautiously especially in the early part of the season.”
Chief executive Theo Spierings says the coop is well positioned to take advantage of improving demand for dairy nutrition across our ingredients, consumer and foodservice markets.
“Increasing numbers of consumers in our global markets prefer dairy for their everyday source of nutrition, and that is converting into strong demand particularly in consumer and foodservice products,” says Spierings.
“Our forecasts are prudent given that we are still early in the season and we are starting with very low levels of inventory, and we are focused on continuing to demonstrate strong business performance so as to bring greater returns for our farmers.”
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.
A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.
One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it was before Cyclone Gabrielle struck just over 14 months ago.