Solid third quarter result for Fonterra
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
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.
Farmers appear to be backing the Government's recent Resource Management Act (RMA) reforms announcement.
For the first time, all the big names in agricultural drone technology are being brought together under one marquee at the National Fieldays.
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
The Fieldays Innovation Awards competition has attracted a diverse and impressive array of innovations from across the primary industries, highlighting the growing importance of technology shaping the future of farming.
Coming to the fore following the carnage of Cyclone Gabrielle, Starlink became well known for providing internet access even in NZ's most inaccessible places.
From this winter farmers will have a greater choice of feed types and blend options than ever before, thanks to Farmlands' purchase of animal nutrition company SealesWinslow.
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