Fonterra boosts innovation spend in China's foodservice sector
Fonterra is opening a sixth application centre in China to boost its growing foodservice business.
The dairy industry is much improved compared with what it was 18 months ago, according to accountant Pita Alexander.
He says Fonterra has made some major changes which he thinks are going to be productive, but he says the future of the NZ dairy sector is all about China.
"That is imponderable; you can't guess what's going to happen. China has been good for us, and you could argue we should have diversified more, but their prices were so much higher than the others that you would be a fool not to take," he says.
Looking to the 2024/25 season, Alexander believes farmers need a payout of at least $8.40/kgMS. He says a lot of people will survive on less but believes a typical payout should be $8.40.
Finally, Alexander has some special advice for dairy farmers: above all, get your kids well educated because not all will come home to the farm. He says education has never been so important and there is nothing wrong with the $40,000 student loan which can be paid back over time.
His other piece of key advice is to attend seminars, conferences and field days where farmers can pick up invaluable knowledge to help them through a crisis.
As storms and flooding continue to batter the East Coast, the Insurance & Financial Services Ombudsman has issued advice for those impacted and looking to claim with their insurer.
Federated Farmers Gisborne/Wairoa president Charlie Reynolds says farmers are in need of emotional support after rain, wind and flooding hit the region this week.
Minister for Emergency Management Mark Mitchell says the Mayoral Fund has been triggered, activating $300,000 for regional recovery after severe weather hit the East Coast this week.
States of Emergency have been declared in Haumoana, Wairoa and Hastings after storms have once again battered the East Coast of the North Island.
Dairy processors are happy with the Government’s move to reduce redtape for exporters.
The fortunes of the dairy industry are expected to bounce back in about a year’s time, according to the Director General of the Ministry for Primary Industries (MPI), Ray Smith.
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