Medals galore for Fonterra cheeses
Fonterra cheeses are continuing their golden run at the annual New Zealand Cheese Awards.
Troubled Chinese infant formula company Beingmate has sold a subsidiary, despite opposition from cornerstone shareholder Fonterra which owns an 18.8% interest.
Beingmate Baby & Child Food Company announced last week that the board has given a green light to sell its fully owned subsidiary Hangzhou Beingmate Dou Dou Children Nutrition Food Co.
An earlier attempt to sell the company was blocked by the board in January because Beingmate B&C was planning to sell it to founder Sam Xie’s associated company.
This time B&C says it will not be sold to related parties.
Fonterra opposed the sale because the Dou Dou company owns a manufacturing plant located on valuable land within a China national heritage zone. The value of this land is expected to soar when its heritage status is approved by the UN.
Fonterra believes Beingmate is selling the land for less than its true value.
The co-op will this week announce its half-year results, expected to contain an update on its $750m investment in Beingmate and another writedown of the value of its 18.8% shareholding.
Fonterra paid $750 million for its stake in Beingmate; the Chinese company’s shares have recently been changing hands at about RMB 5.56, versus the RMB 18 Fonterra paid for them.
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
OPINION: We have good friends from way back who had lived in one of our major cities for many years.
OPINION: European farmers are going to extreme lengths to have their message heard.
OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…